BusinessMirror April 29, 2019 by BusinessMirror

PHL SEEN TO SUFFER GLUT IN CHICKEN MEAT By Jasper Emmanuel Y. Arcalas

HE Philippines is projected to suffer a glut in chicken meat this year as total supply is projected to reach at least 1.424 million metric tons, a figure that is 136,000 metric tons over the 1.288 MMT estimated total demand. Citing government data presented by the Department of Agriculture (DA) Agribusiness and Marketing Assistance Service (Amas), United Broiler Raisers Association (Ubra) President Elias Jose Inciong said the total supply volume already includes imported stocks. In the first quarter alone, the country would have a poultry supply surplus of

A WOMAN tends to her chicken meat stall in a wet market in Manila in this 2018 file photo. NONOY LACZA

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PHILIPPINE STATISTICS AUTHORITY

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16,657 MT while there’s a projected glut of 59,281 MT in the second quarter. The country would have 16,974 MT excess supply in the third quarter and by fourth quarter, when demand is usually high due to Christmas, a glut of 42,939 MT is forecast. Inciong attributed the increase in supply primarily to the aggressive expansion of local production driven by anticipated hike in demand for broiler due to higher purchasing power by Filipinos. However, this aggressive expansion by existing and new small and medium-size broiler players seems to be a “blinded” investment as industry stakeholders do not have a clear picture of the sector’s market situation in the absence of a proper data

system, Inciong pointed out. “People are making investment decisions based on wrong data. They still think there’s space or opportunity in this sector—and this is true not only [with] producers but even for importers,” he told the BusinessMirror. “The number of meat traders has increased from 80 traders to over 300 traders today.” The lack of a sound data system, which Inciong has been pointing out for years, have encouraged new players to invest in the poultry sector due to enticing retail prices in the market, he added. The higher output could also be attributed to the better performance of breeders which started in the second half of 2018, Inciong added.

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A broader look at today’s business n Monday, April 29, 2019 Vol. 14 No. 201

Experts: 2019 inflation lower than expected

By Bianca Cuaresma

@BcuaresmaBM

RIVATE economists agree that inflation will be lower than earlier expected for this year—with the possibility of hitting the 2-percent territory somewhere in the third quarter of 2019. In the Bangko Sentral ng Pilipinas’s (BSP) recent survey on private economists’ inflation views, local analysts projected an average inflation rate of 3.3 percent for this year. This is lower than the 4.1 percent average forecast seen in their

December 2018 survey. According to the Central Bank’s report, the economists’ expectation of lower inflation emanated from the projected downward price pressures that are expected to dominate the inflation path for the year up

until 2020. “Possible downside risks to inflation include the implementation of the rice tariffication law, which is expected to improve domestic rice supply and stabilize prices, and lower global crude oil prices,” the BSP

3.3%

The average inflation rate projected for 2019 by private economists surveyed recently by the BSP—lower than the 4.1 percent average forecast seen in the December 2018 survey report on the private economists’ views read. “On the other hand, the key upside risks to inflation are seen to emanate from adverse weather conditions such as El Niño, volatile global oil prices and foreign exchange market, possible policy rate cut by the BSP, higher domestic demand due to the upcoming midterm elections and school enrollment, and higher electricity rates,” it added. See “Inflation,” A2

By VG Cabuag @villygc

ROPERTY developer Ayala Land Inc. is putting up a 200-hectare facility in Central Luzon, which it will convert into an industrial park allotted for Chinese mainland companies. “We’re going to start with 100 to 200 hectares, and then hopefully expand it,” Ayala Land President Bernard Vincent O. Dy said at the sidelines of the Ayala Corp.’s stockholders’ meeting. “There’s quite a bit of companies coming from China that are looking for manufacturing sites outside of China,” he said. He did not specify where the

By Cai U. Ordinario @caiordinario

ITH short-term risks to growth weighing on the prospects of most countries, the Asian economy is expected to take center stage at the 52nd Asian Development Bank (ADB) Annual Meeting this week in Nadi, Fiji. In a recent briefing, ADB President Takehiko Nakao told reporters that developing Asia is facing a number of uncertainties and opportunities. For this reason, the Asian economy will be tackled at the meeting, with discussions to focus on how to ensure that the region can sustain its economic growth and poverty reduction efforts. “We are expecting a large annual meeting and the theme of this year is what I discussed [which is] of course the Asian economy. And although Asia has been growing [steadily], there are [a number of] uncertainties and opportunities,” Nakao said.

PESO EXCHANGE RATES n US 52.2460

The ADB president cited as short-term risks to the region the US-China trade tensions, Brexit and the rebalancing of China’s growth which is cutting growth prospects of the region. Other risks, Nakao said, include geopolitics, especially this year when many Asian countries are having local and national elections. The Philippines will have elections on May 13 where 243 individuals and groups are vying for national (senatorial) positions and for local positions in various districts and provinces nationwide. Apart from the Philippines, other countries having elections this year include India, Indonesia, Bangladesh, and, recently, Thailand. Geopolitical concerns will be crucial in addressing regional problems, in ADB’s view. In terms of opportunities, Nakao said the discussions will include technology, particularly the Fourth Industrial Revolution which is expected to create new jobs. See “ADB,” A2

PHL govt called out on unlicensed software By Elijah Felice E. Rosales @alyasjah

The production space to be taken up by Guangdong’s largest tile company, which will locate in Ayala’s Alviera Industrial Park in Porac, Pampanga

See “Ayala Land,” A2

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1.7 hectares

said industrial park will be located as talks for the land acquisition are already in an advanced stage. ALI already closed a deal with what Dy said was a large tile manufacturer in China to locate in its Alviera Industrial Park in Porac in Pampanga.

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Ayala Land setting up industrial park for mainland China firms

See “Chicken meat,” A2

TALE OF A LAND Kalanguya tribesmen perform a Canao during their 4th Hulpon (Sharing) Festival in Malico, Nueva Vizcaya, at the weekend. Once fierce headhunters who roamed the forests of the Caraballo Mountains, the indigenous people of Barangay Malico, at the border of Nueva Vizcaya and Pangasinan, are looking to transform their land into an ecotourism destination. BERNARD TESTA

HE United States government has called out its Philippine counterpart for making use of unlicensed software that exposes its operations to higher risks of security vulnerabilities. In the 2019 Special 301 Report of the Office of the US Trade Representative (USTR), the Philippines was among the several countries with no rules in place ensuring the licensed use of software in the government. Unlicensed use of software, the report argued, puts at risk data and information held by authorities and presents a bad case for intellectual property (IP) rights protection. See “Software,” A2

n JAPAN 0.4681 n UK 67.4026 n HK 6.6612 n CHINA 7.7461 n SINGAPORE 38.3400 n AUSTRALIA 36.6401 n EU 58.1707 n SAUDI ARABIA 13.9330

Source: BSP (26 April 2019 )

News

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A2 Monday, April 29, 2019

MinDA chief: Cultural, not consular, office in Sabah By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

AVAO CITY—The signing minister for the Philippines in the East Asean Growth Area grouping clarified as erroneous a Malaysian news report quoting him as saying that the Philippines would drop its territorial claim to Sabah.

Datu Abul Khayr D. Alonto, chief of the Mindanao Development Authority (MinDA), denied making any statement that the Philippines will establish a consular office in Kota Kinabalu in Sabah. “It is totally inaccurate and I categorically deny making such statement,” Alonto said in a statement on Sunday, to clarify his supposed statements while visiting Kota Kinabalu last year. He said a Manila-based newspaper (not the BusinessMirror) had quoted a “supposed Borneo Post report quoting that I would leave it to the Malaysian Foreign Ministry to convey the message that Sabah was an independent entity within Malaysia and that the Philippines

should drop its claim on Sabah.” This story printed by the Manila newspaper elicited a reaction from Foreign Affairs Secretary Teodoro L. Locsin Jr., who said that the statement on a Sabah consulate proposal was “treason.” “The good DFA Secretary was reacting to a news article in the Borneo Post which quoted Sabah Deputy Home Minister Datuk Mohd Azis Jamman as saying that a senior official of the Duterte administration had proposed setting up a Philippine consular office in Kota Kinabalu to assist the undocumented Filipinos, including the issue of stateless children,” Alonto said. “To set this matter in right con-

text, I did have the opportunity to meet the Right Honorable Sabah Chief Minister Datuk Seri Mohd Shafie Apdal in September 2018 in Kota Kinabalu. I have never met with Deputy Home Minister Datuk Mohd Azis Jamman,” he added. He said his meeting with the Sabah chief minister last year was to push President Duterte’s initiative of reviving the barter trade system in Mindanao, “as well as to sustain transport connectivity between Sabah and Mindanao all in the context of our BIMP-Eaga initiative.” “I was there representing the Philippines as the country’s Philippine Signing Minister for BIMPEaga,” he added. “Rather than a Consular Office, I proposed a Cultural Office in Kota Kinabalu which will be primarily tasked to carry out various initiatives and programs that will strengthen the cultural ties between Filipinos and Malaysians who share the same historical origins and cultural affinity. A Cultural Office could also serve as a mechanism to assist Filipinos working and living in North Borneo, particularly providing them with social services that they currently do not have due to the standing claim of the Philippines

Malampaya tax row resolution seen to spur new investments in oil, gas

HE chairman of the Senate’s Senate Committee on Energy said at the weekend there is no longer any “legal impediment” to explore oil and gas deposits following the recent resolution of the $1.1-B Malampaya Tax Arbitration Case in Singapore. “There is no longer a legal impediment for investors to undertake oil and natural gas explorations now that the arbitration court in Singapore has finally resolved the $1.1 billion tax case between Shell Philippines Explo-

Software. . . Continued from A1

The USTR in the report argued it is important that governments legitimize their own activities in order to set an example of respecting IP for private enterprises. “Additionally, unlicensed software exposes governments and enterprises to higher risks of security vulnerabilities. Further work on this issue remains with certain trading partners, including Argentina, Brazil, Chile, China, Costa Rica, Egypt, Greece, Indonesia, Kenya, Mexico, Nigeria, the Philippines, Romania, Russia, Thailand, Ukraine and Vietnam,” the report read. The US urged trading partners to adopt and implement effective and transparent procedures that will ensure the legitimate use of software in governments. The report, citing a study from The Software Alliance, claimed the global value of unlicensed software was at least $46 billion last year. The US is working with other governments to address the use of unlicensed software, particularly in countries that are modernizing their systems or

Inflation. . . Continued from A1

Actual inflation in the first three months of the year hit an average of 3.8 percent, with the latest print reaching 3.3 percent. This is a reversal of the previous quarter’s inflation path, where the average rate of the October to December 2018 inflation hit 5.9 percent. Further, the 26 economists surveyed by the BSP showed that inflation could fall back to the 2-percent territory this year. Respondents forecast a 2.8 percent average inflation rate for the third quarter of 2019. The last time that inflation hit the 2-percent territory was in December 2017 at 2.9 percent. For 2020, the economists’ average forecast was also lower at 3.4 percent from the 3.8

ration BV (SPEx) and the government,” Sen. Sherwin Gatchalian said on Sunday. The P53-billion tax case arose from a Commission on Audit (COA) ruling that the income taxes of the Shell-led consortium operating the Malampaya gas facility cannot be deemed included in the Philippine government share in the revenues from Malampaya. Such dispute, while it festered, was, according to Gatchalian, “a big specter that discouraged foreign players from conducting petroleum

explorations in the Philippines over the past several years and drove away investments in high risk, capital-intensive and technologyintensive sectors.” He added: “With the case now behind us, it is high time for the government to aggressively pursue a ‘Drill, Drill, Drill’ program, so that we can tap these oil and gas resources and use them to achieve Philippine energy independence and pave the way for the country to become an energy exporting powerhouse.” Butch Fernandez

where there are infringement concerns. Further, the USTR scored the Philippines for its slow opposition proceedings, or the administrative procedure wherein one party tries to prevent another from registering a trademark.

agency will complete the needed work to address the issues raised by the USTR. “While this [the Philippines staying out of the USTR watch list] is very welcome news, much work still needs to be done on strengthening the IP system as a whole, not just in enforcement. We won’t be resting on our laurels, [as] it is a continuing challenge to develop a culture of respect for intellectual property,” Santiago said. The IPOPHL submitted its report to the USTR in February, accounting initiatives on IP protection, promotion and enforcement, as well as the general state of the country’s IP environment. According to the IPOPHL, it included in the report the renewed memorandum of understanding on strengthening IP enforcement with its United Kingdom counterpar t; collaborations on IP enforcement capacity building with the European IP Office; and enforcement related legislative amendments to the IP Code, including increasing of penalties and imprisonment period for IP infringement. The Philippines first landed on the USTR watch list in 1994. It gradually eased from priority watch list to regular watch list over the next two decades, and was finally removed in 2014.

Out of watch list

IN spite of issues on IP rights protection, the Philippines managed to stay out of the USTR watch list for the sixth consecutive year. The watch list is comprised of countries with weak enforcement and protection of IP owned by American entities and firms. Along with Ottawa and Tokyo, Manila was recognized by Washington for its laws and enforcement practices against unauthorized camcording, telling countries to adopt a similar design. The USTR report also lauded the Philippines for the creation of the IP Academy. The IP Academy, a brainchild of the Intellectual Property of the Philippines (IPOPHL), is intended to develop IP education programs that incorporate international aspects and adopt a multidisciplinary approach to addressing IP issues. In a statement over the weekend, IPOPHL Director General Josephine R. Santiago said her

percent in the December 2018 survey. Their projection for the 2021 inflation, meanwhile, remained at 3.4 percent.

Current rate ‘appropriate’

IN his opening remarks at the first quarter 2019 Inflation Report last week, BSP Governor Benjamin Diokno said their assessment remains that the current monetary policy rate is still appropriate to given economic conditions. “On balance, therefore, our prevailing monetary policy stance remains appropriate, given the confluence of easing inflation and firm growth dynamics. The BSP continues to gauge the impact of its monetary policy responses on domestic economic conditions to ensure that inflation remains on track toward the government’s target of 2 to 4 percent and that inflation expectations remain anchored,” Diokno said.

“...the BSP will remain data-driven at all times in our policy decision-making and our actions will be determined by our inflation outlook. The BSP remains focused on safeguarding and promoting price stability conducive to a balanced and sustainable economic growth,” he added. Last year, the Monetary Board moved the country’s monetary policy rate 175 basis points upward to respond to the rising inflation during that time. As inflation continues to lose steam, some economists are calling for a cut in the monetary policy rate to spur the country’s economic growth especially now that it is expected to take a hit from the delays in the budget implementation in the country. The Monetary Board will have its next meeting on May 9.

“Rather than a Consular Office, I proposed a Cultural Office in Kota Kinabalu which will be primarily tasked to carry out various initiatives and programs that will strengthen the cultural ties between Filipinos and Malaysians who share the same historical origins and cultural affinity.”— Alonto

on Sabah,” he said. He said the meeting was “closeddoor and a private one.” “Our discussion focused on mechanisms that could sustain the sea and air transport linkages between Sabah and Mindanao, including Palawan, as well as reviving the centuries-old barter trade system in our border areas,” he added. He said he also brought up the plight of undocumented Filipinos living in Sabah and told the Sabah chief minister that assisting the large number of Filipinos “had not been easy through the years considering the political implication of such action to our national policy.” “I merely stated that I will work this out with our Foreign Affairs Ministry,” he added.

ADB. . .

Continued from A1

Nakao added that discussions on the Fourth Industrial Revolution will also include robotics, already a major industry in Japan. Discussions at the annual meeting in Fiji will include the soft side of the economy, particularly tourism, where people are needed to provide a “human touch” in various tourist destinations. Nakao said the Philippines can become a major tourist destination if tourists feel safe and secure during their visit. Data showed the Philippines’s tourism receipts accounted for 2.6 percent of GDP in 2017, which is not far from the 2.8 percent of GDP posted in 2005. In terms of tourist arrivals, there were only 6.6 million tourists who visited the country, not even 10 percent of the Philippine population of 104.9 million. “I think the Philippines has a great chance to further develop [its tourism sector] if people feel secure, safe when coming to the country. [There are a lot of] beautiful beaches and the government is paying attention to clean water like in the case of Boracay, and they are now doing the work in Manila Bay,”Nakao said. “Much has to be done [to increase the number of tourists].” Efforts to boost the tourism potential of the Philippines and other countries in the Association of Southeast Asian Nations include adopting and implementing the Asean tourism guidelines and standards; investing in infrastructure to connect tourism corridors; and supporting the Asean Single Aviation Market. The list of measures also include improving travel facilitation such as visa-free entry for tourists; building knowledge and skills of Asean tourism professionals; and ensuring guidelines and regulations to protect environment and local communities. Nakao said this year’s meeting in Fiji will have around 2,000 delegates. While this is smaller than the 3,000 who attended the meeting in Manila in 2018, there are more officials gracing the event. “Fiji really wanted to have an annual meeting in Fiji because there is a growth in Fiji and they want to show the opportunities and challenges with Pacific Island countries. So we are expecting more than 2,000 participants in Fiji as compared to about 3,000 participants last year,” Nakao said. The Annual Meeting of the ADB Board of Governors is an opportunity to provide guidance on ADB administrative, financial and operational directions. The meetings provide opportunities for member-governments to interact with ADB staff, civil society organizations, media, and representatives of observer countries, international organizations, academe and the private sector. Participants include finance and economic planning ministers; senior government officials; representatives of the multilateral development bank community; investment bankers; representatives of nongovernment organizations; and members of the media.

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BIR extends deadline for registration of POS machines to May 31 By Rea Cu

@ReaCuBM

HE Bureau of Internal Revenue (BIR) has extended the deadline for the mandatory registration of point of sale (POS) machines and sales machines or software with permit to use (PTU) under the bureau’s Enhanced and Integrated Electronic Accreditation and Registration (eAccReg) and Electronic Sales Reporting (eSales) systems. The system is being used for the collation of sales reports from business owners. In Revenue Memorandum Circular (RMC) 48-2019 it issued on April 17, the BIR extended the deadline for the mandatory resubmission of registration for POS machines, cash register machines (CRM), special purpose machines (SPMs), as well as sales machines or software with a PTU of taxpayers to the bureau’s eAccReg. Sales machines that were issued in the month of January this year are those required to resubmit their respective applications through the eAccReg. The deadline was moved to May 31, 2019, instead of April 12, 2019, as mandated under RMC 42-2019 earlier issued by the BIR. “This Circular is hereby issued to amend the deadline for resubmission of applications via eAccReg system which will be on or before May 31, 2019,” stated BIR RMC 48-2019. An earlier issuance, RMC 42-2019, mandated the resubmission of applications for sales machines that were issued in January 2019, as the BIR encountered technical problems in the eAccReg system, affecting transactions and applications filed from January 3 to 31, 2019. “In line with this, concerned accredited suppliers, pseudo-suppliers and/ or taxpayer-users shall resubmit their

Chicken meat. . . The glut in broiler supply, which started as early as August last year, has pulled down farm-gate prices below profitable levels, with some small players losing money and reducing production volume. As of April 22, the average farm-gate price of regular-sized broiler is around P60.33 per kilogram, almost P15 lower than the lower-end of the P75 to P85 break-even level. The average farm-gate price of regular-sized boiler ending April 12 was pegged at P71 per kilogram. Agriculture Secretary Emmanuel F. Piñol recently issued Administrative Circular 03 which set the suggested retail price of broiler at P128 per kilogram to match the average farm-gate price of P78 per kilogram recorded in April 5 to April 12. Inciong pointed out that the 1.424 MMT total supply could be an “understated” volume as estimates of the DA-AMAS were quite conservative.

Ayala Land. . . Continued from A1

The Chinese enterprise is Guangdong’s largest tile company and will take up some 1.7 hectares of space for its production. “In the last two to three years, we’ve seen interest from some of their manufacturing companies to locate here in the Philippines, so we want to be able to provide the appropriate site for some of these companies to bring in their manufacturing operations here,” he said. The said industrial park will also be open to non-Chinese locators that are engaged in light manufacturing activities, he said.

Venture capital fund

AYALA Corp, meanwhile, is setting up a $150-million venture capital fund that will

Brownouts. . .

applications for registration of the CRMs, POS machines, SPMs, and other sales machines through the eAccReg system,” BIR RMC 42-2019 said. The BIR said then that failure to comply with the reapplication requirement will automatically tag the CRMs, POS machines, SPMs, and other sales machines concerned under the status of nonregistration, which will be subject to penalties. Once taxpayers have successfully registered, a reconfiguration on their machines shall be done to reflect the new PTU and machine identification number (MIN), including its validity date on the receipts and invoices. “The previously issued permit, whether manually or electronically, shall be surrendered within 15 days from receipt/ printing of the new PTU to the Revenue District Office (RDO) having jurisdiction over the taxpayer-user’s place of business,” the RMC added. The BIR requires businesses to submit their sales reports through the eSales system every eight or tenth of the month, to be complied with using the new MIN as provided on the new PTU generated. This is in line with the tax collection mandate of the bureau. “Otherwise, nonsubmission of the aforesaid sales report shall be subject to the existing penalty for this violation and will be a ground to be prioritized by the bureau for post-evaluation of CRMs, POS machines, SPMs, and other sales machines based on existing revenue issuances,” the RMC added. The eAccReg System is an enhanced electronic accreditation and registration system for business machines. The platform enables users to get their authority to print receipts online instead of going periodically to the BIR offices.

Continued from A1

“That’s why I am really worried about looking forward unless, of course, there’s a slowdown with the heat taking its toll,” he said. “Those who do not have the capital might [resort] to stopping back production.” Inciong explained that it is surprising that the higher temperature this year, brought about by the weak El Niño, has not slowed down broiler output. Historically, he added, broiler output is lower when the flock’s appetite declines due to heat. Asked what is the industry’s plan moving forward, Inciong said they are studying options to address the concerns at hand, particularly the disconnect between the farm-gate price and the retail prices of broiler. “What I am seeing now is that there are players who maybe—the best way to put it—will start to reduce their exposure to that value chain that ends up in the wet market as farm-gate prices are very volatile,” he added. come from all of its units. The said fund will invest globally in new technologies that can complement their business activities. “With this new fund, Ayala seeks to focus on start-ups in their early growth stage, and support tech innovations in data and analytics, machine learning, artificial intelligence, cloud computing, fintech, automation, real estate, retail, transport, energy, water, health and wellness, and food,” the company said. The fund will be managed by Kickstart Ventures Inc., the corporate venture capital subsidiary of Globe Telecom Inc. with investment decisions overseen by senior Ayala group executives. It has invested in 39 digital start-ups in seven different countries since 2012. This fund is the largest effort of its kind in the Philippines, and the first conglomerate-wide strategic venture capital fund in the country, the company said.

Continued from A12

“They should fix their plants,” he added. At the same time, Gatchalian indicated that he will conduct follow up hearings by the Senate Committee in the course of crafting remedial legislation to address energy issues. “We will look at possible collusion [by energy players],” he said, hinting this will likely lead to tighter

legislation against anti-competition practices. “We cannot let it pass; we will look into it.” Gatchalian signalled that “if the fact-finding shows it [supply shortage] was made up to jack up rates, their licenses should be revoked,” referring to power providers he did not identify. “This is why we need factfinding to verify their claims.”

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Editor: Vittorio V. Vitug • Monday, April 29, 2019 A3

Palace cites resolution of San Francisco’s legislative body as ‘outrageous interference’

DENR seeks to improve Boracay’s water quality

HE Department of Environment and Natural Resources (DENR) is working on a draft administrative order that will declare the entire island of Boracay and its surrounding waters a Water Quality Management Area (WQMA), one of the strategies identified to effectively enforce the Clean Water Act (CWA) of 2004. The CWA (Republic Act 9275) specifies the designation of certain areas as WQMA using appropriate physiographic units such as watershed, river basins or water resources regions. Declaring the entire Boracay as a WQMA will help protect the island’s surrounding waters against pollution, as well as its remaining wetlands, from further degradation. This even as Environment and Natural Resources Secretary Roy A. Cimatu said the pollution-challenged Boracay Island in the Municipality of Malay, Aklan, keeps getting better a year after undergoing rehabilitation. A Policy and Planning Technical Working Group is currently working on a draft administrative order that will place the world-renowned tourist spot under strict management regime, the top biodiversity official of the DENR told the BusinessMirror. Crisanta Marlene P. Rodriguez, the chief of the DENR’s Biodiversity Management Bureau (BMB), said that the Policy and Planning Technical Working Group headed by Director Lourdes Ferrer of the DENR’s Policy

By Bernadette D. Nicolas

@BNicolasBM

ALACAÑANG lashed out at the San Francisco Board of Supervisors for its “outrageous interference” into the country’s sovereignty after it issued a resolution condemning the government’s war on drugs. The Palace on Sunday said it is perplexed why they “could believe the false narratives, as well as the bogus statistics cited in the Duterte administration’s drug war.” Malacañang alleged the information was fed to them by “biased news agencies, anti-Duterte trolls, and a biased alleged labor and environmental activist from San Francisco and Richmond.” This, after the San Francisco Board of Supervisors came out with a resolution condemning the Philippine government’s campaign against illegal drugs. “The resolution is a toxic and unacceptable intrusion to our legal processes and an outrageous interference with our country’s sovereignty,” Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said in a statement. The resolution also expressed support to detained Duterte critic Sen. Leila M. de Lima and Rappler CEO Maria Ressa. It also urged the withdrawal of US financial aid to the Philippines. According to the resolution, the Board of Supervisors also urged San Francisco representatives Speaker Nancy Pelosi, US Sen. Kamala Harris, US Sen. Dianne Feinstein, and Congress member Jackie Speier to “support a congressional hearing on the consequences of US tax dollars going to the Philippine military and police, and to champion cutting US military aid to the Duterte regime.” It noted that the US government allocates money to the Armed Forces of the Philippines and Philippine National Police through appropriations for the Department of State, and Foreign Operations and Related Programs, and the current appropriations in the amount of $184.5 million go to the Philippine military. American Senators have also earlier filed a resolution condemning the human-rights abuses in the country. “Like some US Senators, the San Francisco Supervisors have either developed an amnesia or have not outgrown their colonial mentality,” Panelo added. “They should be shaken from their stupor and wake up to the fact that the Philippines had long ceased to be a colony of the United States and will never be a vassal to it.” But the Palace has since argued that the killings were not state-sponsored. The Executive branch has also denied that the criminal prosecution of de Lima and Sen. Antonio Trillanes IV were because they are critical of the government.

By Jonathan L. Mayuga @jonlmayuga

and Planning Service has been holding meetings for the purpose. Rodriguez even suggested to the DENR-BMB to help craft the administrative order to integrate some of the salient provisions of the proposed Boracay Critical Habitat. This, however, was stalled by the inaction of the Sangguniang Bayan of Malay on the required resolution endorsing the conservation measure to the DENR. A conservation measure under RA 9147 or the Wildlife Resources Conservation and Protection Act, critical habitats are portions of land outside protected areas that have known habitats of threatened endemic species. These areas are usually small, focusing on one or a few species, like Boracay, which has experienced an alarming drop in the number of fruit bats and insect bats, and visiting migratory birds because of habitat loss and unsustainable tourism practices. To date, there are only six DENRdeclared Critical Habitats by virtue of DENR administrative orders, namely: 1. Adams Wildlife Critical Habitat (AWCH) in Mounts Magnas, San Miguel and Linao in the Municipality of Adams, Ilocos Norte; 2. Carmen Critical Habitat in the coastal barangays of Vinapor, Gosoon, San Agustin, Cahayagan and Tagcatong, in the Municipality of Carmen, province of Agusan del Norte; 3. Malasi Tree Park and Wildlife Sanctuary Critical Habitat in Barangay San Antonio, Cabagan, Isabela; 4. Cabusao Wetland Critical Habitat in Barangays Pandan and Biong, Cabusao, Camarines Sur;

5. Rafflesia schadenbergiana Critical Habitat at Sitio Kalanganan, Barangay San Vicente, Baungon, Bukidnon; and 6. Las Piñas-Parañaque Critical Habitat and Ecotourism Area, which covers the so-called lagoons of Parañaque and Las Piñas, also a wetland of international importance or Ramsar Site. The Palawan Council for Sustainable Development has also established the Cleopatra’s Needle Critical Habitat in the island of Palawan. Rodriguez told the BusinessMirror that by declaring Boracay a WQMA, it will undergo strict management regime to be implemented by various stakeholders that will encompass needed measures for the protection of Boracay’s critical habitats, like the roosting sites of Boracay’s fruit bats—particularly limestone forests and cave-dwelling insect bats. In a statement, Cimatu said much has changed in Boracay since the government started the rehabilitation. “I am happy that we are able to sustain the gains we achieved since we reopened in October last year,” Cimatu said on April 26, exactly one year since the resort island was closed to the public for six months to pave the way for its rehabilitation from serious environmental damage. Cimatu, who heads the Boracay Inter-Agency Task Force (BIATF) in charge of the island’s rehabilitation, said the coliform level in Boracay waters “has significantly gone down,” based on the latest water-quality monitoring done by the DENR’s Environmental Management Bureau.

The environment chief noted that the highest coliform level recorded was only 40 most probable number per 100 milliliters (mpn/100 ml). The safe level is 100 mpn/100 ml for Class SB water that is suitable for swimming, skin diving and other recreational activities. He also reported that there had been “no algae year-round,” indicating that “it is really the dirty water which is causing what used to be a natural occurrence.” Cimatu said the entire stretch of Boracay’s White Beach is already safe for swimming, and he was hoping the Bulabog Beach, which is now solely used for water sports, will also be declared “swimmable” soon. So far, Cimatu said 51 establishments along the White Beach have their own sewage-treatment plants while others are now connected to the sewer line. Forty-two establishments in other areas of the island opted to have their own STPs, he added. Cimatu said demolition orders have been served to establishments violating the 25+5 meter-easement rule along the White Beach and Bulabog Beach and almost all of them chose to self-demolish. Those who violated the 12-meter road easement were also ordered to remove their illegal structures. He added that the construction of the Circumferential Road will continue. “Last year, it would take tourists an hour to reach their hotels because of traffic congestion,” Cimatu said. “Now it would only take 20 minutes because of the paved and cleared roads.”

A4 Monday, April 29, 2019 • Editor: Vittorio V. Vitug

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‘Korean e-vehicle makers may get tax perks’ By Elijah Felice E. Rosales

@alyasjah

ANILA is amenable to providing tax incentives for South Korean car manufacturers under a bilateral freetrade agreement (FTA) as long as they commit to make the Philippines their production hub for electric vehicles and its parts in Southeast Asia. Tr ade Undersec ret a r y Ce ferino S. Rodolfo said the government is willing to develop the market and put up the infrastructure for South Korean e-vehicles. The catch, however, is that South Korea should produce the parts and assemble the units in the Philippines. “If, say, we will help you develop the market and infrastructure for electric vehicle here, would you be able to assemble electric vehicles here? In particular, we are interested in electric motor. [We are also interested in the] batteries because we have nickel and copper wires,” Rodolfo said, when asked by reporters last week on the investment agenda in an FTA with South Korea. The government could also provide tax holidays and incentives for developers of infrastructure for e-vehicles, such as charging stations. Further, it is open to

reducing tariffs on automotive inputs needed in manufacturing parts and assembly of the units. “We can include in the IPP [Investment Priorities Plan] the putting up of charging stations, as well as other infrastructure,” Rodolfo said. “If they say [they] could probably make [the Philippines] as assembly center but they need lower tariff rates on particular e-vehicle parts, we are open to that. We really need to be more practical, and examine line by line what it is they need.” He added the tax regime in the Philippines is favorable to buyers of e-vehicles. E-vehicles are exempt from the excise on automobile under the Tax Reform for Acceleration and Inclusion law. Rodolfo said the Philippines is the “best Southeast Asian destination” to invest in for South Korean car manufacturers, as its competitors Thailand and Indo-

Child workers attending school on the rise—PSA By Cai U. Ordinario @caiordinario

HYUNDAI Motor Co. Ioniq electric vehicles (EV) are reflected in a puddle at the company’s plant in Ulsan, South Korea, in this 2016 photo.

nesia are swamped with Japanese shops, while Vietnam is developing with German EDAG its own e-vehicle brand. “We are enticing them [South Korean brands]. The competition is between Vietnam, the Philippines and Thailand. What we are saying is Thailand and Indonesia are flooded with Japanese investments. The remain-

ing options are Vietnam and the Philippines. The problem with Vietnam is it has VinFast. VinFast developed an electric vehicle together with European technology,” he argued. Manila and Seoul are negotiating a bilateral FTA—targeted to be signed by November—to enhance economic ties and expand trade and investment activities.

SEONGJOON CHO/BLOOMBERG

On top of asking South Korea to provide preferential rates on farm goods, the Philippines is eyeing to generate more investments from the East Asian country under a trade deal. Last year investments from South Korea declined to P1.88 billion, from P3.88 billion in 2017, according to the Philippine Statistics Authority.

Report: PHL among most affected by worsening drought in Asean

ROUGHT is expected to become even more frequent and intense in many parts of Southeast Asia, including the Philippines, bringing devastating socioeconomic impacts unless actions are taken now to build resilience, according to a new study. The study, “Ready for the Dry Years: Building PHOTOGRAPHER: ZINIYANGE AUNTONY/AFP/GETTY IMAGES/BLOOMBERG Resilience to Drought in South-East Asia,” was jointly conducted by the United Napeting for increasingly scarce land and tions Economic and Social Commiswater resources.” sion for Asia and the Pacific, and the Other potential impacts include Association of Southeast Asian Nahuman health problems due to limited tions (Asean). and poor water quality, public safety The study, launched on April 24, threat by increasing forest and range said there is ongoing drought in alfires, and changes in lifestyle through most all countries in Southeast Asia urbanization. with social and economic impacts Droughts can be particularly damalready being felt very strongly in aging for the agricultural, fisheries Cambodia, the Philippines, Thaiand forestry sectors, which are the land and Vietnam. region’s largest source of employment Figures indicated that the Philipbased by industry. pines is the third most affected by “Over the past 30 years, droughts drought, after Thailand and Cambohave affected over 66 million people dia, and ahead of Vietnam, it stated. in Southeast Asia. The most severe During the third quarter of 2018 events have been during the El Niño alone, more than 4.8 million people in years. Most of the economic impact the southern part of the Asean region of drought-around four-fifths is abwere affected by drought. The future sorbed by agriculture. However, the could be even worse as climate change impact extends beyond agriculture. brings many more areas to experience Through both demand and production, extreme conditions with severe conseagriculture is linked with industry and quences, said the report. services,” said the study. “In the far future, the conditions “Drought could bring about sewill be more severe. Almost every vere economic losses for Asean mempart of Thailand and Cambodia is ber-states through crop damage or likely to have moderate to extreme failure, as agriculture contributes drought. The northern part of Vietup to 25.9 percent of GDP share in nam and some parts of Malaysia will the region.” have extreme drought conditions. For The study points to the importance Indonesia, drought will be evident of understanding and monitoring across the whole country, though in drought through investment in betthe Philippines the outcome will be ter forecasting systems and more efmore variable. In total, 96 percent of ficient forms of response, especially in the Asean region is likely to be affected disaster-prone areas, at both national by drought.” and regional levels. The report enumerates the so “There is a need to establish a robust cioeconomic impacts of drought. developmental approach by analyzing “Droughts not only exacerbate povhow resources are distributed within erty, inequality and food insecurity, states, and how governments should be they also heighten the risk of conflict. allocating more finance and personnel As droughts degrade the natural envito risk reduction and capacity building ronment, people find themselves comfor droughts.” PhilExport News & Features

ORE working children are now continuing their education as the Philippine Statistics Authority (PSA) saw a declining trend in the number of child workers not attending school in 10 years. PSA data showed the rate of working children not currently attending school fell to 39.1 percent in 2017 from 57.9 percent in 2007. The year when the highest rate of working children did not attend school was recorded in 2008 at 58.5 percent while the lowest was in 2017. “These figures only meant that working children currently attending school positively showed an increasing pattern from 42.1 percent in 2007 to 60.9 percent in 2017,” the PSA said. The PSA said the proportion of working children who were also attending school started increasing in 2011 when the gap between those who were working and studying and those who were just working widened. In 2017, working children attending school improved to 60.9 percent, significantly higher than the 39.1 percent which represented those who were just working and not getting their education. Working and studying is more common for females. PSA data showed the share of working girls not attending school in 2017 was recorded at 23.2 percent, a decline of 29.5 percentage points from 52.7 percent in 2007. The share of working boys not currently attending school in 2017 was at 46.9 percent, down from the 61 percent reported in 2007. “By age group, the shares of working children not currently attending school were generally highest among those aged 15-17 years old although these shares declined over the years,” the PSA said. In 2017, there were 29.398 million children nationwide, 4.9 percent higher than 28.013 million recorded in 2007. Of this number, around 1.344 million children were working in 2017. This 42 percent lower than the 2.316 million children in 2007. The number of working children aged 5 to 9 declined by 52.5 percent to 57,000 in 2017, from 120,000 in 2007. This was the largest drop among working children in terms of age group. This was followed by those in the 10 to 14 age group at 47 percent to 393,000 in 2017, from 742,000 in 2007 and the 15 to 17 age group with a 38.5-percent decline to 894,000 in 2017, from 1.454 million in 2007. With the decline in the number of working children, the PSA also noted a decline in their economic activities to 4.6 percent in 2017, from 8.3 percent in 2007. The economic activity rate of children registered its peak of 8.5 percent in 2011. “The economic activity rate of children computed as the proportion of working children to total population of children in the country followed a generally declining trend from 2007 to 2017,” the PSA said. Working children were employed as service workers and shop and market sales workers while others were hired as farmers, forestry workers and fishermen, as well as trades and related workers. However, the PSA noted that more and more working children are being hired as service workers and shop and market sales workers. Children hired in the service sector increased to 22.5 percent in 2017, from 12.9 percent in 2007. Those hired as laborers and unskilled workers declined to 65.8 percent in 2017, from 75 percent. “The trend on the type of occupation these working children are involved with over time showed that a decreasing pattern is evident in the share of working children employed as laborers and unskilled workers,” the PSA said.

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Sugar output seen hitting 2.2 MMT By Jasper Emmanuel Y. Arcalas

& Bernadette D. Nicolas

@jearcalas @BNicolasBM

HE country’s raw sugar output in market year (MY) 2019-2020 will recover and expand by 4.76 percent to 2.2 million metric tons (MMT), as better planting conditions and increase in demand will encourage farmers to plant more sugarcane. In a Global Agricultural Information Network (GAIN) report, the United States Department of Agriculture Foreign Agricultural Service (USDA-FAS) in Manila also projected that raw sugar output will drop by 4.54 percent in MY 2018-2019. The report indicated that Philippine sugar production in MY 2018-2019 will settle at 2.1 MMT, 100,000 metric tons (MT) lower than the 2.2 MMT recorded in the previous market year. “This is partly due to unfavorable weather conditions in some sugarcane-producing areas resulting in reduced tonnage but with higher yield/purity,” the report, which was published recently, read. “The contraction in sugarcane areas in crop year 2018/19 as reported by the Sugar Regulatory Administration [SRA] also contributed to the production decline,” it added.

The GAIN report noted that that sugar-cane production area in the current MY contracted slightly to 415,000 hectares from the previous market year’s 418,000 hectares. This and poor weather conditions will cause total sugarcane output to fall to 23 MMT. The SRA said raw sugar output in the current crop year ending August 31 will reach nearly 2.08 MMT, which is nearly on a par with the previous crop year’s output. Citing industry sources, the GAIN report indicated that the Philippines is on track to hit the projected sugar production for the current crop year.

Risks to recovery

WHILE it expects output to recover in the next crop year, the GAIN report cautioned that this could be threatened by weak El Niño. “Current dry conditions caused

by El Niño [particularly during the planting stage] may affect sugarcane production next crop year,” the report read. “Sugar producers also remain cautious about the impact of the deregulation of the sugar industry being studied by the government.” The higher taxes slapped on sugar-sweetened beverages and “a growing consciousness of Filipino consumers about their sugar intake” will cause total sugar demand to remain flat in MY 2018-2019. However, total sugar demand in the next market year will increase slightly to 2.3 MMT, from the projected 2.25 MMT in the current market year, “as the domestic food processing and beverage sectors continue to expand and consumers adjust to the increased sugar taxes.” Despite the expected recovery in output, the GAIN report indicated that the Philippines will continue to import some 200,000 MT of sugar in the next market year. “MY 2019/20 imports [raw and refined] are forecast to be about the same 200,000 MT, on the basis that sugar production will return to a more regular level,” it said.

Agri investments

TO improve agricultural productivity, Malacañang said President Duterte urged foreign businessmen to invest in the country’s agriculture sector during a roundtable session in the last day of the Second Belt and Road Forum for International Cooperation in Beijing.

“During [Leaders’ Roundtable] Session III, the President was given the opportunity to have an intervention where he stressed the value of nations, especially in Asia, working together with a shared goal of inclusive, equitable and sustainable growth and prosperity,” Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said in a statement. “He welcomed economic investments that will help our country improve its economic productivity in the area of agriculture, as well as in our country’s massive infrastructure-development program while ensuring that it will be clean and green,” Panelo added. The President also assured prospective foreign investors in a separate event that the Philippine government “will create an enabling environment that allows their business establishments and investments to prosper,” according to Malacañang. Among the initiatives undertaken by the government include the establishment of the Philippine Renminbi Trading Community, which would significantly reduce the cost of doing business in the two economies. The President is back in the country after his fourth trip to China. Duterte brought home newly signed 19 business agreements worth $12.165 billion covering a wide range of investments that is expected to generate more than 21,000 jobs for Filipinos.

Editor: Jennifer A. Ng • Monday, April 29, 2019 A5

Supreme Court clears Bangko Sentral ng Pilipinas, PNB of liability in sugar fund suit

HE Supreme Court cleared the Bangko Sentral ng Pilipinas (BSP) and the Philippine National Bank (PNB) of liability in a claim filed by sugar farmers under Republic Act (RA) 7202 or the Sugar Restitution Law. In a 12-page decision promulgated on February 6, the High Court, through Associate Justice Marvic Leonen, said: “the Court of Appeals erred in ruling that petitioner Bangko Sentral ng Pilipinas is mandated to pay the sugar producers.” Associate Justices Diosdado M. Peralta, Francis H. Jardeleza, Andres B. Reyes Jr. and Rosmari D. Carandang concurred. The tribunal explained that the money to be used to compensate these sugar producers should come from the sugar restitution fund. “Without the fund, there is no restitution to speak of at all,” the SC said. The court explained that the BSP cannot affect the restitution since neither the Presidential Commission on Good Government (PCGG) nor other government agencies have turned over funds to it for the sugar producers’ compensation. “The trial court was correct in the ruling, [t]hat there is no Sugar Restitution Fund even up to this time is not the fault of the herein defendants. Indeed, one cannot give what he does not have,” the SC explained. The Court of Appeals earlier ordered the BSP and the PNB

to pay spouses Juanito and Victoria Ledesma the amount of P353,529, to be taken from the sugar restitution fund upon its establishment. The Ledesma spouses stated in their complaint that they were farmers engaged in sugar farming in Negros Occidental, with sugar productions from crop year 1974 to 1975 to crop year 1984 to 1985. Within this period, they were among those who suffered losses in sugar farming operations due to the actions of government-owned and -controlled corporations, among them the BSP and the PNB. The couple obtained several crop loans from PNB. After full payment of the loans, there was excess payment of P353,529, as admitted by the PNB and as certified by the Commission on Audit. They claimed that under RA 7202, the BSP and the PCGG should compensate them for their losses and refund the excess payment from the sugar restitution fund. The Court pointed out that under the law, the sugar restitution fund must come from ill-gotten wealth recovered by the government through the PCGG or any other agency or from any other source within the Philippines or abroad, and whatever assets or funds that may be recovered, or already recovered, which have been determined by PCGG or any other competent agency of the government to have been stolen or illegally acquired from the sugar industry. PNA

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A6 Monday, April 29, 2019 • Editor: Angel R. Calso

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Iran oil squeeze aids Putin’s ME power play

F President Donald J. Trump succeeds in cutting Iran’s oil exports to almost nothing, one of the main beneficiaries is likely to be Russia. The economic blow to Iran will ease the Kremlin’s efforts to rein in Iranian influence in Syria, bolstering President Vladimir Putin’s efforts to project Russian power across the Middle East. Tehran and Moscow were one-time collaborators in the region, but they’ve found themselves increasingly at odds as Syria’s eightyear-old civil war winds down. In recent months, the two main power brokers in Syria have engaged in deadly clashes, with Russian and Iranian forces and their proxies firing at one another, according to a Russian official and media reports. The relationship between the two countries is tense, three people close to the Russian government confirmed, speaking on condition of anonymity to discuss confidential matters.

Countering Iran will become easier after Trump removed waivers that allowed it to sell oil to countries including China, India and Turkey because the country “will be a lot more squeezed,” said Yury Barmin, a Middle East expert at the Moscow Policy Group research organization.

Sentiment sours

SINCE Trump reimposed sanctions last year, Iranians have been burned by a lack of solidarity from their onetime partners. Tabnak, a conservative news site founded by a former Revolutionary Guards commander, complained in a recent commentary that Moscow hasn’t shown any “serious determination” to stand with Tehran. Iran’s ejection from international oil market also benefits Russia financially: it’ll be free to resume pumping

at full capacity when output curbs agreed with Opec expire in June, said Dmitry Marincheko, oil and gas director at Fitch Ratings. That will earn it about an extra $6 billion a year, at current prices. As relations with Iran soured, Russia invested in unprecedented cooperation with its chief rival, Saudi Arabia, inking a joint agreement with Opec on limiting oil production. That succeeded in stabilizing prices. Although Moscow and Riyadh have backed opposing sides in Syria, Putin has been trying to persuade other Arab nations to drop their hostility to Syrian President Bashar alAssad and reintegrate the nation into the Arab League. A smaller Iranian footprint in Syria makes that more palatable to Sunni Gulf states that see Shiite Iran as their primary rival, said Barmin of Moscow Policy Group.

Armed clashes

RUSSIAN troops have been seeking to gradually push the Iranian-backed Lebanese Shiite militia, Hezbollah, out of Syria, and pro-Iranian and pro-Russian detachments have exchanged fire increasingly since late last year, with three armed incidents

reported in April alone. That included one on April 19 in the eastern province of Deir Ezzor in which two Iranian Revolutionary Guards were killed and four Russian military police wounded, according to Turkey’s Anadolu Agency. Far more deadly clashes occurred in January between rival branches of the Syrian military backed respectively by Iran and Russia, Russian newspaper Novaya Gazeta reported. The conflict is partly over which side mans checkpoints and benefits from it financially, said Rami Abdurahman, director of the UKbased Syrian Observatory for Human Rights, which monitors the war through activists on the ground. But it also reflects a much broader standoff, said Nikolay Kozhanov, a Middle East expert at the European University at Saint Petersburg, who served as a Russian diplomat in Tehran from 2006-2009.

Different goals

“ALTHOUGH Russia and Iran are both interested in ensuring the survival of Assad, they have completely different strategic goals and priorities,” Kozhanov said.

Iran sees Syria as a key front in its battle to carve out a dominant regional role and threaten Israel. That runs afoul of Russia’s aim of using its footprint in Syria to advance Putin’s global ambitions while keeping ties to all major players in the region, including Israel, said Kozhanov. Russia has allowed repeated Israeli air raids on Iranian-backed targets in Syria, according to the ex-Russian envoy. Russian Deputy Foreign Minister Sergei Ryabkov in January denied that Iran was an ally of Russia and said his country was committed to ensuring the “very strong security of the state of Israel.”

Financial interests

ECONOMICALLY as well, Russia and Iran are competitors in Syria, London-based research group Chatham House said in a March report. In early 2017, Syria and Iran signed a memorandum of understanding on a phosphate mining concession near the ancient site of Palmyra. But six months later, Syria signed rights over the same mine to a Russian company owned by a Putin ally, Chatham House said. The US designation of the Is-

lamic Revolutionary Guards Corps, a branch of the Iranian army, as a terrorist organization in mid-April makes it more difficult for Iran to ship oil, and allows Russia to challenge its role as the main supplier of fuel to the Syrian government, said Barmin. Disagreements could sharpen over which foreign forces should stay in Syria, said Diako Hosseini, director of the world studies program at the Center for Strategic Studies in Tehran, which is affiliated with the Iranian presidential office. While the two sides continue to cooperate in efforts to engineer a political post-war settlement, there are concerns the tensions could spiral out of control. In one possible worst-case scenario for Syria, the Russian-Iranian partnership collapses completely and military groups loyal to each side engage in a fight, said Andrei Kortunov, director general of the Russian International Affairs Council, a Kremlin-founded think tank. “The once-implicit competition between Moscow and Tehran for influence in Damascus would then become explicit,” he said. Bloomberg News

Xi Jinping’s wins and losses at 2nd Donald Trump looks for end to Japanese agricultural tariffs ahead of two visits Belt and Road Forum in Beijing

HINESE President Xi Jinping hosted some 5,000 delegates from across the globe at the Belt and Road Forum in Beijing last week to discuss his signature infrastructure project, which began in 2013 to rebuild ancient trading routes across Eurasia. This year’s gathering eschewed the pageantry of the inaugural summit in 2017, as Beijing tried to address international criticism by toning down its rhetoric and tightening oversight. Here are three takeaways from the summit, and how Xi fared in the international spotlight.

A chastened Xi

COMPARED with his keynote speech two years ago, Xi was more muted on the Belt and Road initiative’s growing presence in other countries. The president stuck to discussing steps China is taking to clean up the project, and vowed “zero tolerance” on corruption. People’s Bank of China Governor Yi Gang said the central bank would “build an open, market-oriented financing and investment system,” and the government released its analysis framework for debt sustainability. Xi didn’t announce new numbers on upcoming investment into the program, though he said $64 billion worth of deals were signed at last week’s forum. In 2017, he said China would add 100 billion yuan ($14.8 billion) to the Silk Road Fund and two state-owned banks would provide special loans for BRI projects worth 380 billion yuan in total. This year’s joint statement— released after Xi chaired a roundtable with participating leaders—repeatedly called for “highquality” projects and standards. The 2017 communiqué didn’t use the phrase. The document also encouraged developed nations to invest in “connectivity projects” in developing countries, and said cooperation “will be open, green and clean.” “International lenders will not invest in a project that has not been de-risked or is not financially viable,” said Daniel Russel, vice president for international security and diplomacy at the Asia Society Policy Institute. “China’s challenge now is to demonstrate that the forum’s lofty rhetoric about ‘Green BRI’ and ‘Clean BRI’

CHINESE President Xi Jinping attends a press conference in Beijing. BLOOMBERG

has been translated into action throughout the Belt and Road.”

relations with major countries and readjusted some accordingly.”

Rehabilitation signals

Trade message

CHINA’S efforts to rehabilitate the Belt and Road’s image did have some success, drawing eight more heads of state to this year’s conference. Malaysian Prime Minister Mahathir Mohamad, previously one of the biggest critics of the initiative in Southeast Asia, said his country is fully supportive and stands to benefit from its BRI project. Earlier this month, Malaysia struck a deal with China to resume the East Coast Rail Link project for 44 billion ringgit ($10.7 billion)—down from 65.5 billion ringgit—after deciding to terminate it in January. In March, Italy became the first Group of 7 country to sign up for the BRI, a big win for Beijing that also raised alarm bells in the region. At last week’s forum, developed countries including Austria, Switzerland and Singapore signed up for so-called third-party market cooperation. Japan, France, Canada, Spain, the Netherlands, Belgium, Italy and Australia have already signed the document, agreeing to help build infrastructure in developing countries. “The attendance of some EU countries leaders show the projects are attractive to some developed countries which also have their own domestic economic issues,” said Suisheng Zhao, executive director of the Center for China-US Cooperation at the University of Denver’s Graduate School of International Studies. “Since the trade war with the US broke out, China has reexamined its leverage in its

WHILE Xi made no mention of the ongoing trade war with the US in his speech on Friday, a large part of it alluded to the major issues in negotiations—such as cleaning up state subsidies, reducing nontariff barriers, boosting imports and protecting intellectual property. China won’t engage in currency devaluation that “harms others,” Xi said in the speech. The phrase mirrors language he’s used to describe China’s diplomatic policies. Bloomberg News reported earlier that the US was asking China to keep the value of the yuan stable to neutralize any effort to soften the blow of US tariffs. While he reiterated Chinese talking points about opening up, Xi specifically highlighted the significance of implementation, another sticking point in the ChinaUS trade talks. “We will establish a binding enforcement system for international agreements,” Xi told the forum. US Treasury Secretary Steven Mnuchin has said the two sides have “pretty much agreed on” a mechanism for sticking to the trade deal. “It’s clear that Xi sought to use this year’s Belt and Road Forum as a platform to pursue multiple objectives: to rebrand the Belt and Road and also to telegraph to the United States that he is prepared—rhetorically, at least—to address American concerns that have led to the current trade confrontation,” said Daniel Kliman, senior fellow in the Asia-Pacific Security Program at the Center for a New American Security. Bloomberg News

RESIDENT Donald J. Trump urged Japan to end tariffs on US farm products when he met Prime Minister Shinzo Abe, who appears to have deflected the most damaging US demands on trade weeks before the pair are likely to meet again during two upcoming Trump visits. Trump pushed for the end of the Japanese agricultural levy, while not directly mentioning past threats of sanctions on automobiles. Abe raised the issue of existing US tariffs on its cars and highlighted the growing number of jobs created in the US by Japan’s investment. “We’ll be discussing very strongly agriculture because as the prime minister knows Japan puts very massive tariffs on agriculture, our agriculture, for many years, going into Japan, and we want to get rid of those tariffs,” Trump said during an Oval Office meeting with Abe on Friday. Trump told reporters at the White House that the agricultural levies are unfair “because we don’t tariff their cars.” Trump, though, praised Japanese automobile companies for investing in the US. Abe disputed Trump’s account, saying the US has put a 2.5-percent tariff on Japanese autos. The two leaders met as their senior negotiators wrapped up the second round in as many weeks of accelerated talks to reach a trade deal focused mainly on agriculture and cars. Japan had dragged its feet on starting the talks for over two years in hopes the US may return to the successor deal to the Trans-Pacific Partnership, which Trump withdrew the US from during his first days in office. Other countries’ farmers have gotten preferential access to Japan as a result of deals Abe has struck with them since Trump pulled out of the TPP.

PRESIDENT Trump hosts Japanese Prime Minister Abe at the White House. BLOOMBERG

This week’s talks were mostly focused on confirming the content of the discussions last week. Japan’s chief trade negotiator, Toshimitsu Motegi, signaled the country would seek substantial concessions from the US, saying any agreement could require American congressional approval. Trump had emphasized the speed at which he expects the talks to move forward by saying that a deal could be signed by the time he comes to Japan in May. Motegi also said that Trump did not make any requests regarding restrictions on auto export volume, currencies and new types of services. In Washington this week, Motegi met with US Trade Representative Robert Lighthizer while Finance Minister Taro Aso held separate discussions with Treasury Secretary Steven Mnuchin. Aso said on Thursday that he told Mnuchin that Japan opposes linking currency policy to trade negotiations. The US Trade Representative has included a provision on currencies in its

list of negotiating goals with Japan, and the US has included references to currency in several recent trade deals, including the successor to Nafta, known as USMCA. On Friday evening, Abe and Trump were scheduled to have a private dinner that would also be a birthday celebration for First Lady Melania Trump, who turned 49. Abe has been among the American president’s favorite world leaders, and they’ve played golf on multiple occasions—the latest round coming on Saturday at Trump’s course in northern Virginia. US Ambassador to Japan Bill Hagerty told reporters on Saturday that Trump plans to attend the G-20 leaders’ summit in Osaka in late June. He also said the two leaders this week discussed Japanese vehicle production in the US. “I think that we will see, and the president expects that we’ll see, even more good news on that front,” Hagerty said. Bloomberg News

North Korea: ‘US pressures SK over sanctions’

ORTH Korea accused the US of pressuring South Korea to follow a policy of implementing sanctions against the regime, its state media reported. The Korean Central News Agency report said there was a “serious situation of tension being created” on the peninsula amid halted denuclearization talks with the US. The report was a commentary from the Committee for the Peaceful Reunification of Korea, a government branch. “The US is overtly pressuring the South Korean government, and plotting to use North-South Koreas’

relations to abide by its sanctionspressure policy,” according to the commentary. The scenarios facing North Korea are ones “in which relations are improved with South Korea, or returning to the past of the threat of war,” it said. “We have been asking the South Korean government to take a more active stance in pushing for a peaceful unification,” the commentary said. The commentary was written to mark the one-year anniversary of a summit between South Korean President Moon Jae-in and North Korean leader Kim Jong Un in the border village

Panmunjeom. Kim recently returned to Pyongyang after a trip to Vladivostok, where he met Russian President Vladimir Putin and criticized the US of “bad faith” in nuclear talks. In a separate commentary, KCNA called modified joint drills between South Korea and the US the “practice of a war of invasion, not defense,” adding it’s “an unacceptable action of hostility against a counterpart of dialogue.” “We are watching closely the hypocrisy of the US and South Korea that talk about peace and dialogue to our faces, while obsessing over firing behind our backs,” KCNA said. Bloomberg News

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Cyprus: Suitcases in lake match suspect’s claims of seven deaths

ICOSIA, Cyprus—Search teams in Cyprus located two suitcases at the bottom of a lake where a detained military officer who allegedly confessed to killing seven foreign women and girls told investigators he dumped some of the bodies, officials said on Saturday. Officers spotted the possible evidence with a robotic camera that will be used to keep scouring the man-made lake for a third suitcase suspected to be under water, Fire Service Chief Marcos Trangolas said. The suspect, a 35-year-old National Guard captain, said under questioning that he put the bodies of three victims inside luggage that he ditched in the lake, a police official told The Associated Press. The official spoke on condition of anonymity because he was not authorized to disclose details of an ongoing investigation. The lake, located some 32 kilometers (20 miles) west of Cyprus’s capital of Nicosia, is part of an abandoned copper pyrite mine where a woman’s body was found in a flooded shaft on April 14. The discovery triggered a homicide investigation that led to the captain’s arrest before a second woman’s body was found in the mineshaft on April 20. Police said the suspect admitted killing them both. But police said the scope of case sickeningly expanded when the suspect told them on Thursday about four more victims, bringing

the total to five women and two of their daughters. T he suspect has not been named because he has not been charged yet. He faces charges including premeditated murder and kidnapping for alleged crimes dating back to September 30, 2016. Police told a judge at a court hearing on Saturday the suspect gave details of the slayings in 10 handwritten pages. The judge ordered him held for eight more days. The Cyprus News Agency reported that he is married with two children but separated from his wife. Shocked Cypriots are grappling with the mounting evidence from police that a serial killer was in their midst preying on women who came to work on the east Mediterranean island nation. Hundreds of people turned up for a protest vigil outside the presidential palace on Friday to mourn the victims and to question if authorities failed to adequately investigate when women who worked as housekeepers or in low-paying jobs were reported missing. In a poignant moment, a group

fire with about 100 people inside, killing Lori Kayne, 60, and injuring Rabbi Yisroel Goldstein, Noya Dahan, 8, and Almog Peretz, 34, authorities said. Earnest, who had no previous contact with law enforcement, may be charged with a hate crime in addition to homicide, San Diego County Sheriff William Gore said. Earnest is also being investigated in connection with an arson attack on a mosque in nearby Escondido, California, on March 24. “Any time somebody goes into

Polarized and undecided, Spain heads to polls

ARCELONA, Spain—An uncertain outcome and the likelihood of a far-right party entering parliament are the backdrop for Spain’s most polarized national election in decades. A look at why the country’s voters were called to cast ballots early and what’s at stake when they do on Sunday:

How did Spain get here?

WOMEN from the Philippines in grief outside of the presidential palace in Nicosia, Cyprus, on Friday, April 26, 2019. Up to 1,000 people turned out in front of Cyprus’s presidential palace to remember the five foreign women and two girls that a military officer has confessed to killing in what police are again calling “an unprecedented crime.” AP PHOTO/PETROS KARADJIAS

of tearful Filipino women held lighted candles and bowed their heads in prayer for the three women and one girl of Filipino descent who are believed to be among the dead. The child is the 6-year-old daughter of the first woman found at the mine, Mary Rose Tiburcio, 38. Both had been missing since May of last year. Investigators zeroed in on the captain as a suspect based on online chat communications between him and Tiburcio during a six-month relationship.

Cypriot media have identified the other victim from the mineshaft as 28-year-old Arian Palanas Lozano, also from the Philippines. During the Thursday interrogation that produced four more potential victims, the suspect provided directions to a military firing range where police found decomposed remains in a pit within hours. The captain thought the woman he killed and discarded in the pit was of Nepalese or Indian descent, according to police. At Saturday’s court hearing,

an investigator said she might have been Ashita Khadka Bista, from Nepal. Cypriot police think the other three victims they know about so far are a 31-year-old Filipino woman who has been missing since December 2017, Maricar Valtez Arquiola, and a Romanian mother and daughter. Cypriot media identified the mother as Livia Florentina Bunea, 36, and her 8-year-old daughter as Elena Natalia Bunea. The two are believed to have been missing since September 2016. AP

Leaders struggle to make sense of attack on California synagogue OWAY, C a l i for n i a—T he rabbi who led a service on the last day of Passover suffered a gunshot wound to his hands, and two others endured shrapnel wounds as political, civic and religious leaders across the country struggled to make sense of another fatal attack on a house of worship six months after a mass shooting in a Pittsburgh synagogue. John T. Earnest, 19, surrendered to a police after bursting into Chabad of Poway, north of San Diego on Saturday, and opening

Monday, April 29, 2019 A7

a house of worship and shoots the congregants, in my book, that’s a hate crime,” Poway Mayor Steve Vaus said. There were indications an ARtype assault weapon might have malfunctioned after the gunman fired numerous rounds inside, Gore said. An off-duty Border Patrol agent working as a security guard fired at the shooter as he fled, missing him but striking his getaway vehicle, Gore said. Shortly after fleeing, Earnest called 911 to report the shooting,

TWO people hug as another talks to a San Diego County Sheriff’s deputy outside of the Chabad of Poway synagogue on Saturday, April 27, 2019, in Poway, California. A man opened fire inside the synagogue near San Diego as worshippers celebrated the last day of a major Jewish holiday. AP PHOTO/DENIS POROY

San Diego Police Chief David Nisleit said. When an officer reached him on a roadway, “the suspect pulled over, jumped out of his car with his hands up and was immediately taken into custody,” Nisleit said. Audrey Jacobs, a friend of the slain woman, said on Facebook that Kayne was “taking bullets” for the rabbi to save his life and the rabbi continued to give his sermon after being shot. Gore said authorities were reviewing copies of Earnest’s socialmedia posts, including what he described as a “manifesto.” A person identifying himself as John Earnest posted an antiJewish screed online about an hour before the attack. The poster described himself as a nursing school student and praised the suspects accused of carrying out deadly attacks on mosques in New Zealand last month and at Pittsburgh’s Tree of Life synagogue October 27. California State University, San Marcos, confirmed Earnest was a student on the dean’s list and said the school was “dismayed and disheartened” that he was suspected in “this despicable act.” There was no known threat after Earnest was arrested, but authorities boosted patrols at places of worship as a precaution, police said. Minoo Anvari, a member of the synagogue, said her husband was inside during the shooting. She said he called to tell her the shooter was shouting and cursing. She called the shooting “unbelievable” in a peaceful and tightknit community. “We are strong; you can’t break us,” Anvari said. Rabbi Yonah Fradkin, executive

director of Chabad of San Diego County, said “in the face of senseless hate we commit to live proudly as Jews in this glorious country. We strongly believe that love is exponentially more powerful than hate. We are deeply shaken by the loss of a true woman of valor, Lori Kayne, who lost her life solely for living as a Jew.” Donny Phonea, who lives across the street from the synagogue, turned off his power drill and heard someone shout, “Police!” Then he heard three or four shots. The 38-year-old bank auditor looked over his backyard fence facing the synagogue and saw people hiding behind an electrical box in the parking lot of a neighboring church. At that point, he knew something was “very, very wrong,” went inside and closed his doors and garage. “I’m a little taken aback,” said Phonea, who moved to Poway two weeks ago. “I moved here because safety was a factor. Poway is very safe.” President Donald Trump offered his sympathies on Saturday, saying the shooting “looked like a hate crime.” “Our entire nation mourns the loss of life, prays for the wounded and stands in solidary with the Jewish community,” Trump said later at a rally in Wisconsin. “We forcefully condemn the evils of anti-Semitism and hate, which must be defeated.” Democratic Gov. Gavin Newsom said he joins the community in grief. “No one should have to fear going to their place of worship, and no one should be targeted for practicing the tenets of their faith,” he said. AP

SOCIALIST Prime Minister Pedro Sánchez came to power last June when he succeeded in ousting the conservative Mariano Rajoy, who retired from politics after he lost a no-confidence vote following a major court ruling in a corruption case that implicated his Popular Party. Sánchez’s minority government was able to cling to power for a short time. But it failed to pass a national budget in February, resulting in him calling early elections. Spain’s third national election in four years is the result of the emergence of new parties born from discontentment about the global economic crisis, which has hit Spain particularly hard. The economy is back growing again, but long gone are the days when the Socialists and Popular Party divvied up most of the electoral spoils.

Who’s running

SANCHEZ is the front-runner according to all the polling data, but the increased fragmentation of Spanish politics means that the combined forces of two right-wing parties and the upstart extremist party Vox could win the day. Joining the Popular Party on the right are the pro-business Citizens party, and the nationalist Vox, which defends bull-fighting as an essential Spanish tradition, is hostile to women’s rights and promises to stop illegal immigration. Voters angry with austerity measures have United We Can on the far left. Around one-third of potential voters were still undecided heading into the final week of the campaign, according to polls. Up for grabs are the 350 members of the Congress of Deputies, who then choose a government. Voting stations open at 9 a.m. (0700GMT) and close at 8 p.m. (1800GMT), with results expected a few hours later.

The left’s chances

EVEN if the Socialists get the largest share of votes, their ability to stay in power will likely depend on forging alliances. Sánchez has hinted that he could end up inviting United We Can to form a center-left government like the one that rules Portugal. There has also been speculation that the Socialists could move the other way toward the center-right Citizens, but Sánchez says that option is “not in his plans.” But it is likely that Sánchez would still need to woo some small regionalist parties into backing him.

A right-wing coalition?

VOX is poised to give Spain’s Parliament its first openly far-right lawmakers since the 1980s. Instead of promising to isolate Vox like mainstream parties have done in some other European countries to keep extremists out of government, both the Popular Party and Citizens are radicalizing their messages to stem the flow of voters to Vox. New Popular Party leader Pablo Casado says the three parties on the right should “pool” their votes if they have enough to kick Sánchez out of the presidential palace in Madrid. The three right-wing parties have already shown they can join forces. AP

Green Monday BusinessMirror

A8 Monday, April 29, 2019

www.businessmirror.com.ph • Editor: Lyn Resurreccion

NEW U.N.-ASEAN STUDY REVEALS SLOW BUT DEVASTATING IMPACTS OF DROUGHT IN THE REGION

More dry years ahead for Southeast Asia

ANDALAY, Myanmar— Future scenarios of drought in many parts of Southeast Asia may become even more frequent and intense if actions are not taken now to build resilience, according to the latest joint study by the United Nations Economic and Social Commission for Asia and the Pacific (Escap) and the Association of Southeast Asian Nations (Asean).

Launched on Thursday at the 34th Meeting of the Asean Committee on Disaster Management, the study, “Ready for the Dry Years: Building Resilience to Drought in South-East Asia,” offers clear analysis on the principal risks in the region. The study is released against the backdrop of the ongoing drought in almost all countries in Southeast Asia with social and economic impacts already being felt ver y strongly in Cambodia, the Philippines, T hailand and Vietnam. As reported by the study, the cumulative impacts of drought in the region strikes hardest at the poor and heightens inequality, as well as degrades land and increases

the prospects of violent conflict. Droughts can also be particularly damaging in countries where many people rely on agriculture for primary employment (61 percent in Lao PDR, 41 percent in Vietnam, 31 percent in Indonesia, 27 percent in Cambodia and 26 percent in the Philippines). Over the past 30 years, droughts have affected over 66 million people in the region. However, due to their slow onset, droughts are often underreported and undermonitored, resulting in conservative estimates on its impact in the region. The study pointed out that the future could be even worse. With climate change, many more areas are likely to experience

extreme conditions with severe consequences. “More dry years are inevitable, but more suffering is not. Timely interventions now can reduce the impacts of drought, protect the poorest communities and foster more harmonious societies,” said Armida Alisjahbana, United Nations undersecretary general and Escap executive secretary. Increasing resilience to drought will require much better forecasting and more efficient forms of response, at both national and regional levels. Ready for the Dry Years proposes three priority areas of intervention for Escap and Asean— strengthening drought risk assessment and early warning services,

fostering risk financing instruments that can insure communities against slow-onset droughts, and lastly, enhancing people’s capacities to adapt to drought. “The priority areas of intervention highlighted in this report will contribute to the development of policy responses to mitigate the impact of future drought and eventually will strengthen efforts on building the Asean Community that is resilient to drought,” said Asean Secretary-General Dato Lim Jock Hoi. The study was produced as part of Escap and Asean’s close collaboration on disaster-risk reduction under the Asean-UN Joint Strategic Plan of Action on Disaster Management.

Mountaineering to promote ecotourism in Camiguin PHL CELEBRATES EARTH DAY

TO END SPECIES EXTINCTION

THIS photo of mameng fish, or humphead wrasse, was taken in 2016. DENMARK RECAMARA/HARIBON

MOUNT Hibok-Hibok summit RHONSON NG

NOWN for its powdery sand beaches, waterfalls and hot and cold springs, Camiguin is looking up to its mountaineers to promote ecotourism in this charming island province. This after the provincial government recently launched its “C limb Camig uin” campa ig n, which is aimed at showcasing its chains of volcanoes. Mount Hibok-Hibok, C a m ig u i n’s icon ic pea k , a nd Mount Timpoong were recently declared by the Association of Southeast Asian Nations (Asean) Center for Biodiversity as an Asean heritage park. Now officially known as the Mount Timpoong-Mount HibokHibok Natural Monument, the two volcanoes are among the country’s few protected areas, which is habitat to endemic flora

and fauna species found in only northern Mindanao. “The province recognizes the potential of volcano tourism for driving the socioeconomic growth and development of the local community,” said Camiguin Gov. Maria Luisa Romualdo during the event’s launch with partner agencies Department of Tourism (DOT) and the Department of Environment and Natural Resources (DENR). The climb program, participated in by DENR personnel, local tourism stakeholders and socialmedia influencers, also explored a new and equally exciting trail in Itum village in the capital town of Mambajao. The proposed new path is a 6-kilometer trek, which commences at the DENR Protected Area Superintendent (PASu) station in Mambajao and winds up to the summit

at 1,332 meters above sea level. The PASu jump-off point teems with butterfly and avian life, while the whole trail is habitat to diverse flora, dominated by pitcher plants, wild romblon and giant rattan. In the report by the Climb Camiguin expedition team submitted to the provincial tourism office, among the birds spotted are turquoise and rufous paradise flycatcher, purple-throated sunbird, yellowish white eyes, everett’s white eyes, Brahminy kite, Philippine serpent eagle, yellow-vented bulbul and olivebacked sunbird. Also spotted were the orangebellied and red-keeled f lowerpecker, coppersmith Barbet, Asian glossy starlings, and white-eared brown, zebra spotted, and the Philippine cuckoo dove, and the endemic Camiguin bulbul.

However, the DENR recently closed all National Parks under the supervision of the Protected Area Management Bureau due to the long El Niño dry spell to prevent forest fires and ensure safety of mountaineers. Once officially opened upon the lifting of the ban by the DENR, it will help relieve the stress on the existing trails at Ardent Spring and Barangay Yumbing. According to DOT Regional Director May Salvaña-Unchuan, mountain tourism is the latest product that the DOT-10 has introduced, in addition to farm, dive, faith and cultural tourism, where tour packages have been prepared. She said that a major point they considered before launching the project was the crafting of vital legislation by local governments to ensure sustainable tourism in the Northern Mindanao region.

Paul Simon to donate festival proceeds to environmental orgs

EW YORK—Paul Simon is donating all net proceeds from his 2019 Outside Lands Festival performance to two environmental organizations. Simon announced last week that his August 11 performance will benefit the San Francisco Parks Alliance and Friends of the Urban Forest. The Outside Lands Festival will take place from August 9 to 11 at San Francisco’s Golden Gate Park.

Other performers will include Childish Gambino, Kacey Musgraves, Mavis Staples, Twenty One Pilots, Lil Wayne, Blink-182 and Ella Mai. Simon retired from touring last year but plans to perform occasionally at benefit concerts. T he 77-yea r - old says he’s “pleased to be playing in San Francisco with its well-deserved reputation for being in the forefront of environmental issues.” AP

THIS September 22, 2018, file photo shows singer-songwriter Paul Simon performing in Flushing Meadows Corona Park during the final stop of his Homeward Bound—The Farewell Tour in New York. EVAN AGOSTINI/INVISION/AP

HE Earth Day Network (EDN) identified 2019 as a crucial year to protect species from extinction. Working in partnership with thousands of organizations, EDN’s global campaign seeks to advance policies and international agreements for species protection. According to the network, the world today is facing the greatest rate of extinction since we lost the dinosaurs over 60 million years ago. Unfortunately, this rapid loss is now caused by human activities including deforestation, pollution, hunting and unsustainable agriculture. Over the past decades, the planet has experienced vast environmental degradation. Studies estimate that the Earth is losing plant and wildlife species at 1,000 to 10,000 times the normal rate. Insect populations have dropped more than 45 percent worldwide, while 40 percent of the world’s bird species continue to decline. In the Philippines, for instance, environmental organization Haribon Foundation estimated that over 10 fish species are in danger of being lost forever in the next 20 years due to overfishing and illegal fishing. This list includes the staple talakitok and maya-maya. “The variety of life in the ecosystem or biodiversity is crucial to our survival and resilience as communities. Yet, despite its fundamental importance, the world’s biodiversity is being lost faster than ever,” lamented the foundation. The International Union for Conservation of Nature (IUCN) Red List identified various plant and animal species that are at different risk levels in the country. For example, the pili nut, which can only be found in the Philippines, has been considered Vulnerable, which means it is facing high risk of extinction in the wild. The tawilis, which is the only freshwater sardine in the world, has been recently on the headlines after reports of its steady population decline. It is now considered Endangered due to overfishing, illegal fishing and waterquality deterioration. The pilandok or the Balabac mouse deer, which may only be spotted in Palawan, has been categorized as Endangered; it faces threats such as poaching, hunting and habitat destruction. Finally, the Philippine eagle and the dulungan, or rufous-headed hornbill, continue to be classified as Critically Endangered, facing extremely high risk of

extinction in the wild. “The good news is that the rate of extinctions can still be slowed, and many of our declining, threatened and endangered species can still recover if we work together now to build a united global movement of consumers, voters, educators, faith leaders and scientists to demand immediate action,” said Kathleen Rogers, president of Earth Day Network. According to Haribon, restoring and protecting the homes of species are tantamount to ensuring their survival. Habitat restoration such as planting native trees like narra, kamagong, talisay and antipolo not only ensures there is home for our biodiversity, it also builds greater stability against climatechange effects. Enforcing strong legislation for protected areas and critical habitats are key to protecting species at risk and the habitats we share together. The Philippine Biodiversity Strategy and Action Plan envisions that, “by 2025, biodiversity is restored and rehabilitated, valued, effectively managed, secured, maintaining ecosystem services to sustain healthy, resilient Filipino communities and delivering benefits to all.” The annual Philippine Ear th Day Celebration, through the Earth Day Network Philippines coalition, in partnership with the Department of Environment and Natural Resources, will be held on April 28 in Obando, Bulacan. Last year, the local Earth Day event was conducted in the Harbour Square, Cultural Center of the Philippines Complex with theme geared toward ending plastic pollution. This year’s campaign focuses on raising awareness on the state of the country’s biodiversity, and the important link between species and habitat protection. The main activity will commence with a volunteer-led coastal cleanup drive in one of the island barangays of Obando. This will be followed by a simultaneous bike tour around the town area and a yoga session by Iskon. The Sandiwang Festival, or the “Isang Diwa sa Pagdiriwang ng Kalikasan,” will also he held, allowing various religious groups to express their faith and aspirations for the environment. Different groups also get to showcase their environmental cause through an advocacy fair. Finally, a commitment signing will be held in support of transforming a barangay of Obando into a zero-waste community.

Biodiversity Monday BusinessMirror

Asean Champions of Biodiversity Media Category 2014

Monday, April 29, 2019

Editor: Lyn Resurreccion • www.businessmirror.com.ph

Boracay’s flying foxes under siege L Story by Jonathan L. Mayuga

@jonlmayuga

measures that may apply to Boracay. One is placing the island under strict management regime as a Water Quality Management Area (WQMA) under the Clean Water Act of 2004. She said the DENR’s Policy Technical Working Group suggested to include areas covered by the proposed Boracay Critical Habitat in the proposed WQMA in Boracay since its coverage is the whole island. According to Rodriguez, based on the proposal, the WQMA shall have the same governing board as the Boracay Critical Habitat. Asked if the declaration of the entire Boracay Island as a WQMA will suffice to protect and conserve its rich biodiversity, including its endangered species, Rodriguez said: “That is our concern, too. We are currently reviewing the modified WQMA if the components of the Boracay Critical Habitat are there.”

AST year, the Duterte administration earned a high mark and was hailed for the massive rehabilitation of Boracay, the country’s top tourist destination in Malay, Aklan. Characterized by massive road-widening projects, dismantling of illegal structures that encroached on beachfront, forestlands and wetlands; and the stricter enforcement of environmental laws and tourism rules and regulations, the rehabilitation was lauded as a success by the Department of Environment and Natural Resources (DENR). A year later, after six months of closing the island to tourists from April 26, 2018, to October 28, 2018, for the massive rehabilitation of Boracay, it’s no longer business as usual in Boracay. Since its reopening last year, tens of thousands of tourists arrived to relax and enjoy the famous white-sand beaches and perhaps it’s cleaner and safer, crystal-clear waters, less the noisy and all-night-long partying it was known for. Drinking and smoking in public places were also banned and the beach is a lot cleaner nowadays. Was the rehabilitation effort a resounding success? Not quite.

Bats under siege

THE island’s rich biodiversity is under siege. Its unique ecosystems, from forests, wetlands, mangrove forests, seagrass beds, coral reefs in coastal and marine areas have suffered environmental degradation in the past. Wildlife population, particularly bats, were on the decline because of unsustainable tourism practices, a reason Environment Secretary Roy A. Cimatu sent out a team of biodiversity experts in March last year to conduct a quick biodiversity assessment on Boracay Island. Their mission was clear and well pronounced: Save Boracay’s threatened species—the marine turtles that nest on its beaches, the puka shell that makes Puka Shell Beach sands uniquely cool, the longtailed macaque, the migratory birds, and Boracay’s other tourist attraction, such as the bats, the flying foxes or fruit bats, and their smaller cousins, the insect bats. Incidentally, this year’s Earth Day celebrations carries the theme “Protect our Species” which highlights the need to protect and conserve the country’s unique species. Boracay has three known fruit bat species that roost on trees in the forest of Barangay Yapak. Beneath these limestone forests are caves, the home of Boracay’s insect bats. Just last month, however, the dwindling population of bats, particularly flying foxes or the giant fruit bats, revealed that the island’s rich biodiversity is beleaguered.

Habitat loss, hunting

AS early as January this year, the Friends of the Flying Foxes (FFF), a not-for-profit nongovernment organization formed to protect and conserve Boracay’s flying foxes, have sounded the alarm bells over the dwindling bat population on the island because of various threats—from massive habitat loss because of development projects targeting the fruit bats’ roosting sites to the unabated hunting for food by local communities on the island and in the mainland Malay town. Through its president, Julia Lervik, FFF has written letters to authorities, including the DENR, the provincial government of Aklan and the local officials of the municipality of Malay, Aklan, to appeal the case of the vanishing flying foxes of Boracay. In a letter to Nenette Aguirre-Graf, an honorary member of the Sangguniang Bayan of the municipality of Malay dated January 29, the group expressed concern over the huge drop in the number of bats from 2017 up to 2018. During this period it was observed that destructive development projects and hunting for food continued on the island—even during the time when Boracay

was supposed to be undergoing massive rehabilitation.

Shrinking bat population

THE FFF started to conduct regular monthly monitoring of the bats’ population between 2017 and May 2018, when the roost site was bulldozed by Mabuhay Maritime Express Inc. It was during the intense monitoring when the drastic reduction of the bats’ population was observed compared to previous years. “On the 27th of May 2017, the largest number of bats counted on exit or fly out was estimated to about 2,425 individuals. Later that year, we conducted a roost count and revealed that at least an estimated total of 16 percent of the entire bat population counted were the globally endangered golden-crowned flying foxes and the rest of the percentage are shared mostly by the large flying foxes with that of the small-island flying foxes,” Lervik said in her letter. In 2018, the largest number the group estimated was on February 21 with 1,608 individuals. Since then, the group had ceased to get any information because the island was closed from April to October, when the group was denied access on the flying foxes’ roost counting area. In another letter addressed to Commander Natividad Bernardino, Boracay Inter-Agency Rehabilitation Management Group, dated April 5, Lervik reiterated their appeal to look into the plight of Boracay’s flagship species. When the group was able to resume monitor the bat population, the biggest number they got in the nine times in their exit count was only 347 bats. The group learned from local people and by observing the roost sites of the bats that for last year, and especially during Boracay’s closure, the bats were hunted for food. Also, the group said hunting on the mainland has also been recorded, supposedly by nets.

Destructive projects

FFF, however, claimed that hunting was not the only reason behind the dwindling population of the bats on the island. The destruction of the beach forest in June 2017 through bulldozing “without any permit,” according to Lervik, had a negative impact on the bats. Lervik said at the time of the destruction, the bats had already moved to their habagat roost site, thus, no immediate impact was observed in their numbers that year. However, when the bats returned to mate in the puka shell roost site in April 2018, during the closure, their home, the trees, were gone resulting in what the group described as “disturbingly low counts” on April 5, 2019. Moreover, Lervik added that in 2018, the property next to a big hotel owned by a politician was cleared of its forest cover, which has adversely impacted other wildlife, such as monkeys that have now moved near the roosting sites of the bats.

A matter of concern

FRUIT bats in Barangay Yapak on Boracay Island FRIENDS OF FLYING FOXES

This, Lervik said, are causing a lot of disturbance to the fruit bats.

Tourist-stressed bats

WHILE the bats have been observed last year to be constantly flying around their roost, indicating that they are being disturbed by other wildlife, other life forms also caused too much stress to the bats— the tourists. In March and April this year, a large number of boats have been observed docking, with anchors, destroying the reefs and dropping off guests on Puka Shell Beach, Lervik said. “When they signal their guests to return to the boat, the boat blows its horns repeatedly. Considering a large number of boats, and tourist arrivals and departures throughout the day, these generate a huge amount of noise that disturb the nocturnal bats,” Lervik lamented. Last, extremely loud music played by the boats docking and driving around Boracay’s shores aggravate the problem. “When the FFF visited the Balinghai Roost Site, multiple boats were observed docking [with tourists set] for snorkeling and playing loud music, which resulted in the bats flying around trees, instead of sleeping,” Lervik pointed out.

Critical habitat

SINCE many of Boracay’s known roosting sites are critical habitats, FFF appealed to concerned government agencies, including the Malay LGU, to work together to establish portions of the island, including coastal areas, a critical habitat. In fact, the DENR’s Biodiversity Management Bureau (BMB), then headed by Theresa Mundita S. Lim, recommended that portions of Boracay be declared as a critical habitat. Recommended to be designated as critical habitat under Republic Act (RA) 9147, or the Wildlife Resources Protection and Conservation Act, or simply Wildlife Act, are all the remaining limestone forests on the island, the Puka Shell Beach, all bat-roosting sites and one of four existing wetlands on the island. Various stakeholders, including owners of business establishments within the proposed 750-hectares Boracay Critical Habitat, have expressed their support behind the plan. Cimatu has also vowed to sign an administrative order for the purpose of establishing Boracay Critical Habitat. Besides establishing the Boracay Critical Habitat, FFF is also supporting the plan to declare vast coastal and marine areas

The impact of the bats’ disappearance on Boracay will not only be felt on the island, but will also have long-term implications on communities in the mainland where they feed and disperse forest seeds.” —Lim

around Boracay Island, especially those near roosting sites of the fruit bats, as marine protected area in order to put them under a strict management regime that will regulate tourist activities.

What happened?

ONE year after, however, the establishment of the Boracay Critical Habitat still hangs in the balance after the DENR required the Malay LGU, through the Sangguniang Bayan, to pass a resolution for the purpose. The Malay LGUs inaction caused the delay, according to DENR-BMB Director Crisanta Marlene Rodriguez. On April 23, the DENR’s top biodiversity official said in a BusinessMirror interview that the Malay LGU through its Sangguniang Bayan promised to tackle the proposed Boracay Critical Habitat. “Today, we were told that they will call a meeting to discuss the proposal to establish the [Boracay] Critical Habitat,” Rodriguez said, adding that the DENR-BMB remains committed to the plan to establish the habitat plan. If ever it will not push through, Rodriguez said they are looking at other conservation

LIM, currently the executive director of Asean Centre for Biodiversity, said the decline of the number of fruit bats on Boracay should be a matter of concern as it can also be considered a “symptom” of an underlying more serious environmental problem. “Aside from the direct result of losing the potential value of these flying foxes for ecotourism, more important, they are also natural seed dispersers and pollinators for native fruit trees and contributing to expanding forest cover, including for areas that are not easily accessible to human planting,” she pointed out. Lim said the decline of the population of bats in the Philippines and other areas would easily impact on the capacity of forests to regenerate itself, translating to an irreversible reduction of water recharge from watersheds and reduced resiliency functions derived from healthy forest ecosystems. “The impact of the bats’ disappearance on Boracay will not only be felt on the island, but will also have long-term implications to communities in the mainland where they feed and disperse forest seeds,” she said. Reminding that the Earth Day 2019 theme is “Protect our Species,” Lim said: “This is very much linked to the role of the other living things that we, humans, share the Earth with. The theme brings attention to the alarming decline of plants and animal species because of man-made threats. Much like the situation with the bats in Boracay,” she said.

A10 Monday, April 29, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

‘Vote for these candidates’

HE last opinion survey has been released. The candidates’ posters are beginning to look worn and torn. Two weeks from today, Filipino voters will cast their ballots for 12 seats in the Senate, all the members of the House of Representatives and countless local offices. In a social-media post, Caloocan Bishop Pablo Virgilio S. David asked Filipinos who they will vote in the May polls: “Will your vote be for Jesus or for Barabbas?” An equally interesting question might be this: Why did the religious leaders and elite of the Sanhedrin have Jesus of Nazareth arrested and turned over for trial leading to a potential death sentence? Ancient Greek philosopher Aristotle said that man is a “political animal” because he is a social creature with the power of speech and moral reasoning. “It is a characteristic of man that he alone has any sense of good and evil, of just and unjust.” While we would like to believe that votes are cast based on an analysis of the “issues,” it may truly come down to what an individual voter perceives as a battle between good and evil, or Jesus and Barabbas. Two people are sitting side by side watching the recent debate by the senatorial candidates. A candidate answers a question on a particular topic. One of the viewers says the answer shows “an arrogant attitude, and a person who is stubborn and narrow-minded.” The other says: “That person has my vote. I want a senator who is confident and decisive.” Political opinion surveys are all based on a statistical interpretation of the “10,000-man rule.” That is, when you are alone relieving yourself in the comfort room at the mall, 10,000 other men and women are doing exactly what you are doing at exactly the same time. With proper analysis, a polling firm can find that one person accurately reflects the behavior of the other 9,999 (or 1 million as the case may be). But that does not answer the question of what are the reasons voters are voting for a particular candidate. For example, we know that college educated men from a “secondtier school” with a wife and two children, and earning P100,000 a month in a middle management position tend to vote the same way. Why they choose a particular candidate is the mystery. Studies say that two major factors are in play: Views on specific issues of public policy and an evaluation of the personal characteristics of the candidate. However, deeper studies reveal that many people ultimately choose their candidates almost like they chose their high-school friends. We validate our views on the issues by who else shares (or disagrees) with those views. Likewise, we view candidates favorably or unfavorably based on the people who support or who do not support that candidate. All the “popular” classmates are “Juan for Class President,” while the “smart” ones are “Vote Maria.” Maybe it is not the issues or the characteristics of the candidates that genuinely matter. Maybe it is not what you know, but who your “friends” are voting for that also gets your vote. Since 2005

BusinessMirror A broader look at today’s business

When stress at work may lead to depression Atty. Jose Ferdinand M. Rojas II

RISING SUN

NE of the significant health issues at this time has to do with mental well-being. Some weeks ago, a young journalist recorded a video about his struggles with depression and scheduled its release on his Facebook page a few days after he was found dead in his hotel room. Early this year, the drummer of a rock band live-streamed his suicide for all to see. There are other cases, of course, some of them are less publicized. Difficult relationships, trauma, health challenges, financial worries, and problems with one’s career or job are just some of the reasons people get stressed. If not managed, stress could sometimes lead to depression. There is a significant portion of our population that is exposed to triggers or challenges that may lead to stress and, eventually, mental-health problems. As a maritime nation, we have many men and women who work at sea for long periods of time, like

Atty. Lorna Patajo-Kapunan

Founder

Editor in Chief Associate Editor News Editor Senior Editors

Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Efleda P. Campos Dennis D. Estopace

Online Editor Social Media Editor

Ruben M. Cruz Jr. Angel R. Calso

Creative Director Chief Photographer

Eduardo A. Davad Nonilon G. Reyes

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help keep the economy healthy and support their families so their children can become good citizens of this country. They deserve our attention and respect, and one way to offer this is by looking closely at their situation and finding out how specific stakeholders—the government (Department of Health, Department of Labor and Employment/Overseas Workers Welfare Administration), their shipping companies or employers, recruitment centers, insurance companies, workers’ union, etc.— can address their problems or difficulties. As mentioned earlier, one of

Department of Disaster Resilience

✝ Ambassador Antonio L. Cabangon Chua Publisher

the crew members of cargo vessels and cruise ship staff. They are often at sea for months, or even years, working away from their country and loved ones. These people are exposed to challenges that are specific to their occupation: isolation, feeling of helplessness about family problems back home, challenges related to living and working with people from various cultural backgrounds, and other struggles. They are, however, active contributors to nation building as they

According to a 2013 study, the suicide rate among seafarers is the second-highest on record, next to the coal miners. And 15 percent of those people dying at sea are dead because of suicide, making it the most common cause of onboard deaths. There is another global study done by Yale University and the International Maritime Charity Sailors’ Society that showed that 26 percent of seafarers show signs of depression.

N 2010, Congress passed Republic Act (RA) 10121 or the Philippine Disaster Risk Reduction and Management Act (DRRM Act), which was considered a landmark legislation for Philippine disaster-risk reduction and management. This replaced Presidential Decree 1566 enacted sometime in 1978. Since the enactment of PD 1566, the Philippines was hit with unfortunate large scale disasters— Typhoons Reming, Ondoy and Peping—hitting Luzon, particularly hurting Albay, Bicol, (2006) and Metro Manila (2009). This compelled the passage of RA 10121 after 32 years from PD 1566 of 1978. Since the passage of RA 10121, several disastrous typhoons followed: Typhoons Juan (2010), Sendong (2011), Pablo (2012), Yolanda (2013), Ruby (2014), Lando (2015), Lawin (2016) and Paolo (2017). In addition to these typhoons are the habagat floods, the Bohol-Cebu earthquake in 2013, and last week a powerful 6.3-magnitude earthquake that struck northern Luzon and was followed by a 6.4 magnitude in Samar, 4.54.7 magnitude in Davao Oriental, Davao Occidental and Surigao del Sur. At least 16 fatalities in Luzon have been confirmed. Among the institutional innovations of RA 10121 was the

establishment of permanent disaster management offices at all levels of local government in contrast to the disaster management councils before under PD 1566 but, for economic expediency, was maintained at the barangay level. The membership of the interagency body, the National Disaster Coordinating Council was radically expanded under RA 10121 transforming it into the National Disaster Risk Reduction and Management Council (NDRRMC) which is now mandated by law to supervise and lead not only in emergency management but also in the implementation of disasterrisk reduction through its “policymaking, coordinating, integration, supervision, monitoring and evaluation” functions.

But, the weaknesses of the institutional set up under RA 10121 was exposed when large scale disasters like Supertyphoon Yolanda revealed that problems encountered in coordinating and implementing large scale disaster-risk reduction and management efforts required an institution that is in a sufficiently high position with the necessary authority, mandate and resources to lead and coordinate the efforts of local government units and the different stakeholders, and to oversee the implementation of streamlined disaster-risk reduction and management policies nationwide. President Duterte apparently recognized the need for a new authority or department that is more responsive, efficient and competent. In President Duterte’s State of the Nation Address on July 24, 2017, he enjoined “both houses of Congress to expeditiously craft a law establishing a new authority or department that is responsive to the prevailing 21st century conditions, and empowered to best deliver an enhanced disaster resiliency and quick disaster response.” Both the Senate and the House have filed various bills answering the President’s clamor. Notable are House Bill 6075 introduced by Rep. Joey Sarte Solceda, Senate Bill 1994 introduced by Sen. Juan Edgardo Angara and SB 1735 filed by Sen. Grace L. Poe. These bills seek to create the Department of Disaster Resilience (DRR) to replace the existing DRRM.

their struggles has to do with mental health. These stakeholders are therefore encouraged to put systems and programs in place to prevent an increase in the number of cases and to help those who are suffering from mental illness. According to a 2013 study, the suicide rate among seafarers is the second-highest on record, next to the coal miners. And 15 percent of those people dying at sea are dead because of suicide, making it the most common cause of onboard deaths. There is another global study done by Yale University and the International Maritime Charity Sailors’ Society that showed that 26 percent of seafarers show signs of depression. Many of them, 45 percent to be exact, don’t go to anyone for assistance. Perhaps this is because of the stigma attached to mental-health conditions. People are generally wary about coming out with it because there are many who continue to judge or discriminate against sufferers. They are especially hesitant because they do not want their jobs to be adversely affected. To be continued

The Explanatory Note of HB 6075 is enlightening as to the purpose for creating a high level institution such as the DRR: It is the intention of this bill to establish a much-needed, stronger, self-governing DRR, one that is clearly mandated to lead in the planning, coordination, monitoring, oversight and implementation of disaster-risk and vulnerability reduction and management, equipped with the necessary competency and resources to engage new actors, particularly in the field of risk transfer and insurance, and built with the necessary structure to manage broader climatedisaster governance arrangements, and oversee the implementation of disaster-risk and vulnerability reduction and managements toward Sendai Framework on Disaster Risk Reduction and the Sustainable Development Goals, as enshrined in the 2030 Agenda for Sustainable Development. These agreements are of particular significance for the Philippines for addressing common, interlocking issues affecting the country’s aspiration for a prosperous, sustainable future. These issues converge on the Philippines’s vulnerabilities, which stem from its geographical location, socioeconomic features including a rapidly growing population, and external factors like climate change which is outstripping the country’s natural coping capacity. See “Kapunan,” A11

Opinion BusinessMirror

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Dirty Russian oil has made Information integrity a fragile market worse

By Julian Lee | Bloomberg Opinion

RESIDENT Donald J. Trump wants to strangle the Iranian economy and keep gas prices low for American drivers. The discovery that Russia has been exporting contaminated crude oil means any hopes that he could do both have all but evaporated. Trump decided this month not to renew waivers that let countries buy Iranian oil without violating his sanctions, affecting eight nations that have exemptions expiring on May 2. This drove crude prices higher at a time when gasoline prices were already rising. Gas is up by nearly 30 percent since the start of the year and is now within 10 cents of last year’s peak, before America’s summer driving season has even started. This harsher regime looks like it will stick. While some countries will try to persuade Trump to grant last-minute extensions, the current rhetoric from Washington doesn’t look encouraging. The exemptions that were made alongside the first wave of sanctions in November were unexpected. Offering a second round of waivers after saying there wouldn’t be any would, frankly, make Trump’s administration look stupid. Three countries won’t even try to persuade Trump to issue new waivers. Italy, Greece and Taiwan never used them and won’t miss them when they’re gone. China and Turkey have both criticized the unilateral nature of the sanctions and accused the US of exceeding its jurisdiction, but it is unclear how far either will defy American demands. In China’s case, the importance of reaching a bilateral trade deal with the US may outweigh the benefit of defiance. An agreement could be reached by the end of June, according to Citigroup. President Xi Jinping may be loath to create any cause for delay. Turkey has already strained relations with the US over its plans to buy a Russian missile-defense system. Continuing to buy Iranian crude would sour them further. And even if the Turkish government wants to rebel against the sanctions Tupras, the country’s biggest refiner, may be less willing as it would bear the brunt of any American retaliation. That leaves India, South Korea and Japan, and they are already lobbying the White House. Even if Trump were to have a change of heart, he doesn’t have to capitulate fully. Were he to agree a 25-percent reduction in the volume of oil allowed for purchase from Iran over the next six months, that would still make his sanctions tougher than those of his predecessor. But if the president refuses to budge, then all three are likely to stop buying crude and condensate from Iran. They are already starting to toe the line—the sharp drop

Kapunan. . .

continued from A10

This bill has the strategic clarity of describing and empowering the DRR as the lead agency for the implementation of (1) vulnerability and risk-reduction policies, programs and projects; (2) rehabilitation and reconstruction; and (3) assess collective progress toward achieving purpose of agreement and its long-term goals, and to do so in a comprehensive sustainable manner, considering prevention, mitigation, anticipatory adaption measures and support, in the light of equity, capacity building, best available science, technology transfer and other development. The DRR ensures that it has a sufficiently high level of expertise to orchestrate different actors, policies and programs for disaster-risk and vulnerability reduction and management. It has the authority not only to receive but also to administer, mobilize, report, monitor and oversee the utilization of the DRR Fund, recovery and rehabilitation

in Iranian exports seen in April includes a big decline in volumes to South Korea, and no cargoes heading to Japan. The US sees itself as able to get tougher with its sanctions because it believes oil markets are well supplied, unlike last November. Brian Hook, Special Representative for Iran, says all forecasts show the global supply of oil exceeding demand in 2019. That’s only true if Opec boosts its overall output. The group’s production already has to increase by 250,000 barrels a day in the second half of 2019 compared with last month’s levels to balance the market, according to the Department of Energy’s latest forecast. The US expects others to offset the impact of tougher sanctions— the Department of State published a fact sheet last week saying it has pledges from Saudi Arabia and the United Arab Emirates to increase production in order to make up for the shortfall from Iranian exports. Counting on those promises is a gamble. After being blindsided by the waivers issued in November, nobody should expect Opec nations to start pumping more until there is clear evidence of Iranian supplies falling. They may also need to compensate for any further falls in output from other members of the Shaky Six. Within that group, both Venezuela and Libya look particularly vulnerable. The pledges cited by the State Department are doable in theory, but could break the group apart if Saudi Arabia and the UAE are seen as blatantly doing America’s bidding to the detriment of fellow founding members. The situation is fragile enough, but the Russian problem blows it out of the water. Europe’s oil refineries stopped taking piped deliveries of Urals crude from Russia last week after flows were found to be contaminated. Exports through the Baltic export terminal at Ust-Luga also seem to have been affected. That represents a loss of about 1.5 million barrels a day of heavier crude. Shipments of uncontaminated oil are not expected to resume from Russia before May 3, reaching the southern leg of the pipeline before May 10, Ukraine’s pipeline operator Ukrtransnafta JSC said on Facebook. Saudi Arabia may be able to offset the loss of Iran’s exports, or the Russian disruption. Even if it wanted to, it doesn’t have the capacity to do both. American motorists are already paying the price. funds, and absorbing funds and donations for disaster-risk reduction and management. The DRR will be separated from the Office of the Civil Defense, which will continue to perform its original mandates that are not directly or indirectly repealed by this amendatory bill, particularly its duty to administer a comprehensive national civil defense and civil assistance program, the training of community volunteers for civil defense and assistance, and other mechanisms for community preparedness. The NDRRMC will now focus solely on policy-making and function as a platform for coordination of policy concerns with the DRR organizing and managing the secretariat and the operations center to support the NDRRMC. It is hoped that both houses of Congress will cross party lines, desist from its juvenile antics and urgently enact into law the creation of the Department of Disaster Resilience. The recent earthquakes are a wake-up call. Let us not wait for “the big one” to happen. By then, it would be too late!

Siegfred Bueno Mison, Esq.

THE PATRIOT

WORKED for Infogix, a software-development company based in Illinois, USA. One of its earlier tag lines was Information Integrity—meaning, the information that comes in and out of every department should be accurate, whole and consistent all throughout the company. Infogix was one of those dot com companies that managed to stay afloat during the financial crisis 20 years ago. The company primarily catered to businesses that needed accurate data processing. It started with financial reconciliation and balancing tools in billing and collection and accounting departments. Infogix eventually customized software to automate data processes in departments, where any CEO would want or expect data accuracy and reliability. Infogix has ventured to Data Supply Chain Management methodology which, according to its web site, “is designed to start with raw data, and through metadata harvesting and creation, to enrich and transform it into insights and visualizations.” These integrated “data products” are highly accurate, close to Gospel truth, inasmuch as

they were prepared with minimal human intervention to minimize manual intervention and/or manipulation. In any boardroom, leaders expect accurate reporting to arrive at an informed decision. Presented with the wrong information, any leader, regardless of how good his intuitive or analytical skills are, will always end up making a wrong decision. Hence, it is imperative for such leaders to have accurate, truthful and mistake-free information. However, there is a tendency to skew or distort information, especially if the same is not favorable to the organization. Nobody wants to be the bearer of bad news. However, a good leader understands the importance of speaking the truth, knowing that it will come out on its own. Instead of using lame justifications or hiding the truth

Monday, April 29, 2019 A11

when there is an obligation to present it, good leaders tell the truth, at the very first instance. Unfortunately, since Filipino culture promotes the habit of being nice even to a fault, most Filipinos are so reluctant to offend others. And, sometimes, if telling the truth can hurt, they often hide it. But I have encountered a few who are bold and daring enough to be truthful and transparent in all dealings. Perhaps owing to her auditing background, one feisty yet highly educated executive audaciously insists on presenting hard facts, even if it would disappoint her superiors. She could never be persuaded nor coerced to stifle some facts and figures, which, if presented to her superiors, could even cost her job. In similar fashion, former Ombudsman Conchita Carpio-Morales fearlessly admonished lawyers who are partly responsible for spreading lies for the sake of some of their clients. She declared that the country is suffering from a “disinformation crisis,” because Filipinos, according to her, have not asserted their rights and are scared to death. Such counterintuitive and courageous acts remind me of how some apostles stood their ground when Pharisees and Sadducees asked them to stop spreading the good news. In the Bible, Acts 4:19-20 tells us, “But Peter and John replied, “Which is right in God’s eyes: to listen to you,

Great opportunities and challenges Joel L. Tan-Torres

DEBIT CREDIT Conclusion

ITH issuance by the Securities and Exchange Commission of the Memorandum Circular 4-2019 providing for the Sustainability Reporting Framework, the Philppines joins the rest of a number of countries all over the world that are keen in addressing the pressing economic, environmental and social issues confronting our communities. We, accountants, should not lag behind on these initiatives of contributing to the upliftment of universal targets of sustainability, including those prescribed in the the United Nations Sustainable Development Goals. The SDGs are the 17 targets defined by the UN to promote prosperity of nations, while protecting our planet. More information on the SDGs can be obtained from this link: https://www.un.org/ sustainabledevelopment/. Our Professional Regulatory Board of Accountancy can take the lead for the profession to put Sustainability Reporting and related concerns in the accountant’s radar screen. The BOA need not

look too far in pursuing programs for this. It can merely refer to the ongoing activities of the International Federation of Accountants on its Extended External Reporting undertaking. The information on the EER can be referenced on this link: http://www.iaasb.org/ projects/extended-external-reporting-eer-assurance. The Philippine Institute of Certified Public Accountants can initiate more activities on SDGs, sustainability reporting and EERs. Organizing more seminars and events on these will greatly benefit the profession, as well as Picpa, which may be able to generate more revenues from its Continuing Professional

Development training activities. Individually, accountants should also play a major role. Awareness of the many developments in this area is the first step. Thereafter, development of competence and active involvement follows. Many opportunities beckon for the accountants to help the various stakeholders in their sustainability reporting requirements, including compliance with SEC Memorandum Circular 4-2019. Personally, I have been deeply involved on various activities in this area of EER. I have been elected as the Philippine representative to the United Nations Conference on Trade and Development Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting since 2016, where there has been a focus in the work in Sustainability Reporting and the SDGs. I have been attending global forums on EER, including the Isar Meetings in Geneva and New York; the various Confederation of Asia Pacific Accountants conferences in Korea and Malaysia; the CPA Australia Congress in Canberra and Melbourne; the Word Standard Setters Conference in London; the Public Sector Standard Setters Forum in Switzerland and in New Jersey; the Accountancy Europe and European Federation of Accountants and Auditors conferences in Brussels; the

or to Him? You be the judges! As for us, we cannot help speaking about what we have seen and heard.” The truth is just one side of the relationship; the other side is receiving it. When the recipient of the information has exacting standards, presenters are more wary to call a spade a spade. Some resort to fact distortion or “decoration,” while others resort to lying, especially when the recipient can’t handle the truth very well. Good leaders manage to receive the truth, good or bad, very well to allow for honest and candid, if not accurate and reliable, flow of information. In the Bible, Ephesians 4:25 tells us, “Therefore each of you must put off falsehood and speak truthfully to your neighbor, for we are all members of one body.” The truth always finds a way to come out. In the case of Infogix, it espouses the belief that information integrity is an “everybody” thing where everyone in the company is involved in making sure that data deficiencies are addressed at all levels. Inspired by the boldness of former Ombudsman Conchita Morales, let’s never be afraid to correct information in this day and age of bullying. When there is a need to declare the truth, let’s be brave enough to say so, even if others can’t handle the truth! For questions and comments, please e-mail me at sbmison@gmail.com.

Ifac meetings in New York; the Center for Financial Reporting Reform meetings in Vienna; and the World Congress of Accountants in Sydney in November 2018. In the Philippines, I have been involved with the various organizations in several activities on EER and sustainability reporting, including the BOA, Picpa, SEC, Philippine Alliance for Sustainable Development, the Global Reporting Initiative and the SEED Institute. As chairman of the BOA, I organized a forum on “Integrated Thinking and Reporting for SMEs” in Manila in January 2018. I have written several articles, which have been published, including this column. Definitely, there have been several major developments and accomplishments in the area of EER and sustainability reporting. And more initiatives are forthcoming. Let us all be involved on these noteworthy endeavors. Joel L. Tan-Torres is a Certified Public Accountant who placed No. 1 in the May 1979 CPA Board Examinations. He was the former commissioner of the Bureau of Internal Revenue from 2009 to 2010 and the chairman of the Professional Regulatory Board of Accountancy from 2014 to August 2018. He is a partner of Reyes Tacandong & Co. This column accepts contributions from accountants, especially articles that are of interest to the accountancy profession, in particular, and to the business community, in general. These can be e-mailed to boa.secretariat.@gmail.com

Low inflation boosts markets for wrong reasons By Komal Sri-Kumar Bloomberg Opinion

T was only a few months ago that the US Federal Reserve was intent on continuing to increase interest rates. But now, some policy-makers are even hinting that the next move may be a rate cut, and they may even pursue other forms of policy easing despite equities reaching record highs again. If that is the message Fed Chairman Jerome Powell will provide at his press conference on Wednesday following a two-day meeting with policy-makers, it would spur equities to even greater heights and drive yields on Treasury securities even lower. To see why this is a likely scenario, it helps to understand why the move toward further policy easing may occur. Maintaining healthy employment and stable inflation are the twin objectives of Fed policy. Since the 2008 financial crisis, three Fed chairs have attempted without success to reach and sustain

a 2-percent inflation goal. They rationalized that near-zero interest rates and three bouts of quantitative easing would take the economy toward that target. But despite the Fed’s balance sheet having more than quintupled from $800 billion in late 2008 to a peak of $4.5 trillion by 2015, inflationary pressures have remained dormant. The inflation numbers for the first quarter released on Friday showed a further easing of inflationary pressures. The core personal consumption deflator that excludes food and energy fell from an already low 1.8 percent in the final quarter of 2018 to 1.3 percent in the first three months of 2019. Inflation this low could quickly turn into deflation, as has been Japan’s experience since the early 1990s. Negative inflationary expectations become self-sustaining since they encourage consumers and investors to postpone spending, further deepening a downturn. Federal Reserve Bank of Chicago President Charles Evans told the Wall

Street Journal this month that if the core inflation rate held at around the 1.5-percent area for a few months, he “would definitely be thinking about taking insurance” by cutting rates. Robert Kaplan, head of the Federal Reserve Bank of Dallas, also indicated that if inflation persisted at low levels, he would have to take that into account in setting rates. Even if Powell suggests at his May 1 press conference that such a move could occur within a few months, that may not be the end of the easing cycle. The Fed is unlikely to succeed in raising the inflation rate now any more than it has been able to do in the past decade. Even if a rate cut is accompanied by an announcement that the Fed would resume bond purchases, that may not pressure inflation higher. Low inflation in recent years has been the result of an aging US population that tends to consume less, Trump administration policies that have discouraged immigration of young

workers who could have contributed to spending, and a labor-force participation rate that is still below precrisis levels. These issues are structural and do not respond to monetary stimulus measures. Furthermore, if rates are reduced, low- and middle-income workers will find themselves losing out on interest income as they did in the years after the crisis. This too will curb consumption and hold back inflation. Under these circumstances, the Fed will likely double up on policies that don’t work, sending financial asset prices even higher; failure may only breed further efforts in the same direction. This expectation is borne of experience. When the Fed deemed that the first effort at quantitative easing that was announced in late 2008 was not sufficient to spark faster inflation and put economic growth at an acceptable pace, it introduced second and third versions of bond purchases, providing a backstop to financial assets for several years.

2nd Front Page BusinessMirror

A12 Monday, April 29, 2019

www.businessmirror.com.ph

OK of NCR wage-hike bids deemed unlikely

By Samuel P. Medenilla

@sam_medenilla

HE wage petitions filed before the regional wage board in the National Capital Region (NCR) are unlikely to prosper due to the existing ban on the grant of another wage hike in the same year unless authorities validate a so-called supervening condition. E xe c ut ive D i re c tor M a r i a Criselda R. Sy of the National Wages Productivity Commission

(NWPC) said the Regional Tripartite Wages and Productivity Board-NCR (RTWPB-NCR) has

₧537

Current wage for minimum-wage earners in Metro Manila—an amount that TUCP said “is highly insufficient in the light of rising costs of food and services caused by taxes and inadequate government services and social protection assistance to poor Filipinos” yet to report of any supervening condition. “The NCR [Wage] Board, though,

received last Friday a petition for increase in NCR from three labor groups,” Sy told t he BusinessMirror in an SMS. Last week, the Kilos Na Manggagawa, Metal Workers’ Alliance of the Philippines (MWAP) and the BPO Industry Employees Network (BIEN) petitioned for a P213 minimum-wage hike in NCR. The Trade Union Congress of the Philippines (TUCP) said it will be filing on Monday a petition for a P710 wage hike in NCR. TUCP or its affiliate groups are the ones which traditionally file wage petitions for NCR before every Labor Day.

The said labor groups said the new round of wage petitions will allow workers to cope with the rising cost of living in the region. “ The current P537 wage for minimum-wage earners in Metro Manila is highly insufficient in the light of rising costs of food and services caused by taxes and inadequate government ser vices and social protection assistance to poor Filipinos,” TUCP said. Under wage rules, the wage boards are not allowed to entertain wage-hike petitions within 12 months from the effectivity of

their previous wage order unless they declare a supervening event. Supervening conditions pertain to any extraordinary increase in prices of petroleum products and basic goods/services for a specific period. The last wage order issued by the RTWPB-NCR took effect in November 2018, raising the prevailing minimum-wage rate in the region by P25. But even with the prevailing wage petition ban, the RTWPBNCR is still required to accept and decide on all wage petitions it will receive as part of its administrative functions.

Brownouts DPWH CITES JICA FOR Singapore to adopt PHL eagle pair to conserve rare bird species to continue, INFRA SUPPORT ROLE but not on IN MISSION: PHL RITES election day By Jonathan L. Mayuga

@jonlmayuga

O prevent the extinction of the critically endangered Philippine eagle in case of unforeseen or uncontrollable events like the spread of a deadly disease that can wipe out its dwindling population, the Department of Environment and Natural Resources (DENR) has agreed to send a pair of the country’s national bird to Singapore. The measure is backed by experts from the Philippine Eagle Foundation (PEF), which has been the DENR’s primary conservation partner when it comes to the protection and conservation of what can be considered as the world’s largest bird of prey. Dennis Salvador, executive director of PEF, in an earlier interview at the premiere of the documentary Bird of Prey in Makati City recently, said the move will help protect and conserve the species from being wiped

FILE PHOTO BY PHILIPPINE EAGLE FOUNDATION

out by disease like the dreaded bird flu virus. On Earth Day, the DENR chief vowed to help preserve the critically endangered species. According to the PEF, fewer than 400 pairs are left in the wild. Under a loan agreement with Singapore, Environment Secretary Roy A. Cimatu said Singapore will learn or try to breed the rare bird, which is endemic to the Philippines. Aside from the rescue and rehabilitation of the Philippine eagle and

EASTERLIES AFFECTING SOUTHERN LUZON, VISAYAS AND MINDANAO as of 4:00 pm - April 28, 2019

other birds of prey that survive gunshots by hunters or wildlife poachers, the PEF has been implementing a successful captive-breeding program since the 1990s. The PEF remains critically endangered, according to an assessment of the DENR and the International Union for the Conservation of Nature (IUCN), mainly because of habitat loss characterized by destruction of natural forests, and hunting for trophies.

HE chairman of the Senate Committee on Energy confirmed over the weekend the assurance given by government authorities that there will be no power outage during the May 13 national and local elections even as they anticipate more brownouts ahead due to “thinning reserves.” “ We did not get a firm assurance that there will be no more brownouts,” Sen. Sherwin Gatchalian said, citing energy officials’ admission in last week’s committee hearing of thin reserves in case of supply shortage. “Manipis ang [We have a thin] supply,” he said. The senator pointed out, however, that the committee considers as the main issue the “faltering power plants that are not being penalized and still get to pass on the burden to consumers.” “That is what came up at last week’s energy committee hearing,” he said, adding, “There will be brownouts, but we will have continuous supply on election day.” Still, Gatchalian admitted his frustration over the energy authorities’ failure to give a firm assurance of continuous power supply. “We were disappointed because we wanted a firm assurance there will be no brownouts,” the senator said, stressing that he was rejecting “alibis.” Gatchalian stressed that the Department of Energy (DOE) is mandated to impose penalties on power providers “if there is failure to supply.” The lawmaker lamented that, while he acknowledged claims that the problem was due to low power reserves, “it is the consumers who are made to suffer.” The senator confirmed the committee is working on proposed new policies to penalize “unreliable power suppliers.”

LEAH FELISA PEÑAROYYO, Jica section chief ROY DOMINGO

HE Japan International Cooperation Agency (Jica) was recently feted for its infrastructure support to Philippine development projects by the Department of Public Works and Highways (DPWH). L ea h Fel isa Peñ a roy yo, Jica section chief, received the Development Aid Partner Award for Infrastructure Support from Public Works Secretary Mark A. Villar at the recently concluded Mission: PHL, the BusinessMirror Envoys&Expats Awards. “On behalf of the Japan International Cooperation Agency, I would like to thank the Department of Public Works and Highways for nominating us to the Infrastructure Support Award. Indeed, DPWH and Jica have come a long way, working together for decades now to improve the road network and connectivity in the country, Penaroyyo said in brief remarks at the culminating rites of Mission: PHL. She added: “Despite the

many challenges that come along in the formulation and implementation of roads and bridges projects, I believe that DPWH in cooperation with Jica have surpassed most of these challenges, leading to the successful completion of projects and realization of benefits. I would also like to thank BusinessMirror for this award. This is truly an inspiration for all of us in Jica to continue to work to improve the lives of the Filipino people. Mabuhay.” Mission: PHL is the first and only recognition awards for the Philippines’s best partners in development cooperation. It gives due recognition to the development efforts of countries as represented by their embassies, as well as bilateral and multilateral development aid partners. Watch for the next round of Mission:PHL , the BusinessMirror Envoys&Expats Awards in 2021. Read updates on Mission: PHL in the BusinessMirror’s Envoys&Expats Section.

See “Brownouts,” A2

Leyte-based ‘BM’ stringer adjudged best feature writer

LMER V. RECUERDO, a Tacloban City-based correspondent of the BusinessMirror, was named “Best Feature Story Writer” during the first Media Awards Night of the Eastern Visayas Media Without Borders held on Saturday night. Recuerdo won for “excellence in feature writing with dramatic flair and comprehensive depiction of issues and topics affecting various sectors of society.” He was cited for the body of work he wrote for the Regions Supplement and Cities Saturday special sections of the BusinessM irror in 2017 and 2018. Among these were “Closure remains elusive to kin of missing Yolanda victims,” “Elderly relatives caring for children orphaned by Yolanda,” “Eastern Samar nurtures its people’s health,” “Leyte EconoMICS: Transforming war zones into

ELMER RECUERDO, a correspondent of the BusinessMirror based in Tacloban City, was named “The Best Feature Story Writer” by the Eastern Visayas Media Without Borders on April 27. vibrant economies,” “People smile at the sun in Suluan, Eastern Samar,” “Culture, the arts are serious business in Calbayog City,” “Ormoc

festival celebrates bountiful pineapple harvest” and “From danger to death zone: Yolanda survivors still in sorry state 3 years after devastation.”

Editor: Efleda P. Campos

Companies BusinessMirror

Monday, April 29, 2019

FDC allots major portion of 2019 capex to Clarkfield

By VG Cabuag

@villygc

ILINVEST Development Corp., (FDC) the holding firm of the Gotianun family, is allocating a significant portion of its capital expenditures to its properties in Clarkfield, Pampanga. FDC said it is allocating P38.9 billion in capital expenditure to its real-estate and hotel units, Filinvest Land Inc., Filinvest Alabang Inc. and Filinvest Hospitality Corp., mainly for land acquisition and property development in 2019. “Capital expenditure in 2019 is roughly equally allocated between the trading segment of the real-estate

Solar PHL to boost capacity of Luzon grid with 150-MW solar plant in Tarlac

OLAR Philippines’s Power Project Holdings Inc. will boost the capacity of the Luzon grid through its 150-megawatt (MW) solar facility in Tarlac that recently began operations. Company President Leandro Leviste said the firm’s Tarlac solar farm has a full capacity of 150 MW, which can help address the Luzon grid’s power shortage, which in recent days has ranged from 100 MW to 200 MW. The additional supply means averting rotating blackouts for up to 500,000 households, bigger than the entire residential demand of Tarlac. Early this month, the Department of Energy (DOE) warned that unscheduled shutdowns of coal plants would result in rotating blackouts and higher prices, as more expensive diesel plants run instead. This has resulted in the Meralco generation charge rising to P5.6322 per kilowatt hour (kWh) as reflected in April electricity rates. Solar Philippines’s 150-MW solar farm is the largest solar-power generation facility in the country. The company has inked a contract with Meralco to sell power from its Tarlac facility at P2.9999 per kWh, making it the lowest-cost power plant in the Philippines and the lowest-cost solar plant in Southeast Asia. This is especially appropriate since solar farms generate the most power on summer days, when wholesale electricity spot market prices exceed P7 per kWh. To keep costs low, the Tarlac project uses panels manufactured at Solar Philippines’s facility, the first Filipino solar-panel factory, and is developed, constructed, owned and operated by the Solar Philippines group. “We are inspired to think that our actions are making a tangible difference for the Philippines, and will intensify our efforts to bring low-cost solar energy to every Filipino,” Leviste said. The company has a manufacturing plant in Santo Tomas, Batangas, that produced solar panels with an equivalent capacity of 800 MW in 2017. Its target output in 2018 was 2,000 MW. Lenie Lectura

business and the investment segment, which includes office, retail, hotel and logistics park developments,” said Josephine Gotianun-Yap, the company’s president. The money will mainly be spent in its sprawling property in Clarkfield, the former US base, including the Clark International Airport, Filinvest Mimosa+ Leisure City and the 64-hect-

are Phase One of the group’s township development in New Clark City. Part of the budgeted investments include the expansion of FDC’s hotel portfolio, Yap said. The group has a pipeline of 2,600 additional keys in the planning and construction stages across 10 new hotels and expansions, with a target of 5,000 keys under management by 2023. FDC primarily operates its hospitality business under two brands, Crimson and Quest. FDC’s net income grew 31 percent in 2018 to P13.4 billion, from the previous year’s P10.27 billion, due to growth in the property and banking segments and also the power group’s ramped-up energy sales. Revenues grew 26 percent to P73.3 billion, from last year’s P57.88 billion. The bulk of the group’s gross revenues were generated by the property at

43 percent and banking at 41 percent, while power-generation operations contributed 13 percent of revenues. The balance of 3 percent came from the sugar business. Property income reached P8.8 billion with growth driven mainly by its recurring income portfolio, while banking subsidiary EastWest Bank ended 2018 with net income of P4.5 billion and realizing an 11-percent return on equity, which it said is one of the highest in the industry. The power segment registered P2.1 billion in net income, 16 percent of the group’s aggregate net income. FDC Utilities Inc. operates the largest operating baseload power plant in Mindanao with a capacity of 405 megawatts. Energy sales from the FDC Misamis power plant grew 24 percent in 2018, while sales from the FDC Misamis power plant grew 24 percent, it said.

AC Energy, partner looking at wind-power project in Vietnam By Lenie Lectura

@llectura

INH THUAN Province, Vietnam—AC Energy Inc., the power-generation arm of conglomerate Ayala Corp., and the BIM Group of Vietnam are expected to collaborate again for a wind-power project here, following last Saturday’s inauguration of their 330-megawatt (MW) solar farm. “We’re discussing further projects in Vietnam in the energy sector, still with AC Energy. We are looking at wind now,” BIM Group Chairman Doan Quoc Viet said. The wind-power project would be put up in the province of Ninh Thuan where the solar facility is also located. Viet could not yet say how big the wind-power project is, other than there are “a couple of constraints,” but AC Energy is not worried at all since the BIM Group has been studying the viability of wind power for seven years already. “It’s very interesting because the BIM Group has been monitoring the wind pattern for a very long time now. Seven years of studies are critical and apparently ideal also,” said Ayala Corp. President and COO Fernando Zobel de Ayala, who is also the chairman of AC Energy. The BIM Group is targeting to build a portfolio of 1,000 MW of

power-generating capacity. AC Energy is hoping the BIM Group would still prefer to be its partner. “ We’ve done 330M W w it h them. We’re hopeful to partner with them to get that 1,000 MW. They also announced over 300 MW of wind to get to that 1,000 MW. While we don’t have a firm agreement, of course, being good partners, we will be discussing to what extent we can continue our collaboration,” AC Energy president Eric Francia said. The 330-MW solar farm of AC Energy and BIM Group is the largest solar-power project in Southeast Asia, costing $294 million. The 330-MW solar farm is expected to generate 545 million kilowatt hours (kWh) of renewable energy annually. This is roughly enough to supply 200,000 households. The project will also generate income and jobs for the province of Ninh Thuan. The solar farm, comprising three facilities with respective installed capacities of 30 MW, 250 MW and 50 MW, is the first project under BIM/AC Renewables, the renewable-energy development platform of AC Energy and the BIM Group. Rizal Commercial Banking Corp. (RCBC) was the sole lender, providing nonrecourse project financing of $232 million. The commissioning of the solar farm—AC Energy’s maiden project in Vietnam—marks a milestone in the

company’s regional expansion as it aims to reach its target of 5 gigawatt hours (GWh) of RE capacity by 2025, with renewables contributing at least 50 percent of total energy output. The inauguration and ceremonial switch-on was led by Vietnam’s Deputy Prime Minister Vu Duc Dam, Ninh Thuan Provincial Party Secretary Nguyen Duc Thanh, Ninh Thuan Chairman of People’s Committee, Luu Xuan Vinh, Zobel de Ayala and Viet. Francia said AC Energy is focusing on RE projects, particularly those registered with the government’s feedin-tariff (FiT). “For now, the policy of government is to support solar and wind with FiT. Therefore, we will invest behind the FiT of the government,” he said. In Australia, AC Energy partnered with UPC Renewables, which is developing the 1,000-MW Robbins Island and Jim’s Plain wind-power projects in North West Tasmania, and the 600MW New England solar farm near Uralla in New South Wales. “We are planning to break ground in Australia within the second half of the year for the first phase of the 700-MW plant in South Wales,” Francia said. AC Energy is also present in Indonesia. Its Sidrap wind project with UPC Renewables Indonesla Ltd. commenced operation in March last year.

Experts defer for 1 year proposed RP Energy coal plant in Subic

HE planned 2x300-megawatt (MW) circulating-fluidized bed (CFB) coal-fired power plant of Redondo Peninsula Energy Inc. (RP Energy) in Subic, Zambales, would be revisited next year after experts recommended “to let it rest for one rainy season.” RP Energy Inc. is a partnership among Manila Electric Co., Aboitiz Power Corp. and Taiwan Cogeneration Corp. through their respective subsidiaries. AboitizPower Chief Operating Officer Emmanuel Rubio said management has engaged a consultant to look into the stability of the site, which remains to be a challenge aside from the power-supply agreement (PSA) pending before the Energy Regulatory Commission (ERC). RP Energy has cancelled the notice to proceed issued to the EPC contractor Doosan Heavy Industries & Construction Co. Ltd., and Azul Torre Construction Inc. Among others, Rubio cited “instability in one of the slopes” and “a construction issue, something that was not foreseen” by the project proponent. “The consultant’s recommendation is to stabilize the slope first. Issues like this with

geological conditions is very tricky. In fact, one of the recommendations, I believe, is to let it rest for one rainy season, and that rainy season is up to 2020. There is now a recommendation on how to resolve the issue, which is up for approval in the next board. There’s a hill behind the site, that’s the one that’s moving, not the site itself. We just want to make sure we protect ourselves from that geological condition once we make a decision on putting up the plant,” Rubio said. The proposal awaits board approval in June. Once approved, management can make use of the time to decide if it is viable to convert the plant into a liquefied natural gas (LNG) facility or to a superior coal technology. “Once approved, then they would have to work on the slope and with the recommendations to actually wait for it stabilize for one rainy season, I guess we have time to work on the plant technology up to at the end of rainy season 2020. Coal will always be an option. Maybe, there’s an opportunity for us to consider a different technology—supercritical to ultra supercritical. That’s why

it’s all options at the moment. It’s good to be in a position where you a lot have options,” said Rubio, noting the proposed shift to LNG is among the options. “The recommendations on all plant options are all early days. A number of options are just being presented, but there is no decision yet on which one to take,” he said. Meralco PowerGen Corp. (MGen), a stakeholder of RP Energy, earlier said the shift to LNG is an option bring discussed with “inhouse experts.” “We should be making a decision within the first half of this year regarding what to do next. We would have determined the technology and EPC. There are new technologies. It might no longer be CFB. We are also considering LNG,” MGen President Rogelio Singson earlier said. If the coal power plant project would be converted to LNG, Singson said the capacity would “depend on economics.” “It might not be that big, depending on economics. In general, we’re saying we’re open to changing the technology from the original 2x300-MW CFB,” he said. Lenie Lectura

Imported car sales up 7.75% in March By Elijah Felice E. Rosales @alyasjah

EHICLE importers ended the first quarter on a positive note, as their combined sales in March went up nearly 8 percent on double-digit growth in the light commercial vehicle (LCV) segment. In a report last week, the Association of Vehicle Importers and Distributors Inc. (Avid) disclosed its sales in March grew 7.75 percent to 7,952 units, from 7,380 units during the same month last year. Sales declines were posted in the passenger car (PC) and commercial vehicle (CV) brackets, but the month was saved by a double-digit performance from the LCV group. LCV sales expanded 21.01 percent to 4,998 units, from 4,130 units, as segment leaders Ford Group Philippines Inc., Hyundai Asia Resources Inc. and Suzuki Philippines Inc. registered growths. March PC sales fell 9.37 percent to 2,831 units, from 3,124 units during the same month last year. Vehicle importers also saw their sales of CVs slip to 123 units, from 126 units. In total, sales of imported cars after the first quarter slowed 2.53 percent to 22,497 units, from 23,083 units, the Avid report said. This decline, however, failed to dampen the group’s projection of a 10-percent improvement this year. Avid President Maria Fe Perez-Agudo said the

automotive industry is showing “modest recovery” and will most likely reverse its dismal performance last year in the next quarters. She argued all economic indicators are pointing to recovery, primarily inflation—the general increase in commodity prices—that eased to 3.3 percent in March, from 4.3 percent during the same month last year and 3.8 percent in February, the Philippine Statistics Authority said. “Avid’s first-quarter 2019 performance indicates the automotive industry has turned the corner and is now experiencing a modest recovery. We expect a further upturn in the next three quarters on the back of improved consumer sentiment, the introduction of exciting and innovative models, and the government’s aggressive infrastructure program,” Agudo said in the report. “If positive economic fundamentals, including low inflation and rising living standards, are sustained, we can expect a renewed boost to motorization in the country,” she added. Last year, sales of imported vehicles fell 16.54 percent to 88,700 units, from 106,285 units in 2017. As with other industries, Avid attributed the decline to the confluence of rising borrowing costs, soaring oil prices, tax hikes introduced under the Tax Reform for Acceleration and Inclusion law and record-high inflation, which peaked at 6.7 percent in September and October last year.

Praxis opens financial ‘gym’ to promote financial literacy in PHL the ‘fun’ way By Roderick L. Abad @rodrik_28 Contributor

EEING the importance of financial literacy, especially now when inflation is high and the value of the peso continues to depreciate, Praxis Philippines officially opened a new facility where the public can flex its muscle to learn how to manage itd hard-earned money well. Called the Praxis Financial Gym, it serves as an activity center where the attendees are taught how to effectively manage their personal finances to prepare for their own financial freedom. A World Bank study said only 2 percent of the country’s population of more than 100 million are financially literate. This means that 98 million Filipinos are not skilled in making wise money decisions. Such gap, Praxis Director and Group CEO Greg Martin said, opens a big potential for the Philippines to become a leader in financial literacy. “That is why we kicked off this financial gym here and, hopefully, replicate its success in other areas nationwide and in locations overseas where we are present,” he told the BusinessMirror after the Praxis Media Event last week that coincided with the ceremonial launch of the new facility. Located at the Ground Floor of Classica I Condominium in HV de la Costa Street in Salcedo Village, Makati City, Praxis Financial Gym is where the public can experience Gameplay, a financial-literacy solution developed by the company in Singapore that focuses on enabling financial-literacy and education through a fun and interactive learning experience. Praxis Philippines CEO Mari-an Albert said it can be customized to a specific audience, whether for students as part

of their class, companies’ employee wellness programs, or financial institutions’ recruitment and training sessions or for their sales and customer engagement. She added the gym can accommodate up to 30 persons, from 10 years old and older, as it is equipped with six tables for the board game, each to be participated in by six players. The top executive noted that every Gameplay is facilitated by a certified game master directing its flow and announcing realistic “breaking news,” such as health scares, drastic changes in stock prices and other news bits that influence how players make decisions about their money. The one who makes the most money after the cycle wins the game and can be included in the Praxis Financial Literacy Gym Leaderboard, the president said. Since its inception in 2003, Praxis Gameplay has been used in educational institutions, financial-service companies, government organizations and leading companies in Singapore, Thailand, Malaysia and now the Philippines. “We’d like more people to visit the Praxis Financial Gym to help in promoting financial literacy by letting them experience financial challenges and learn critical information that will help them fulfill their financial dreams,” Albert said. “Just like in a regular gym where customers can access trainers to guide them on their workouts, here at the Praxis financial gym, licensed financial advisers can partner with Praxis to guide people and help master money. This gym tones your money muscles for life,” she added. Interested companies or organizations can now book for Praxis Gameplay in the gym. For a big group of participants, Praxis is open to bring to their place the unique and effective engagement and learning tool.

Companies BusinessMirror

Monday, April 29, 2019

PSE STOCK QUOTATIONS

April 26, 2019

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK COL FINANCIAL FIRST ABACUS FERRONOUX HLDG FILIPINO FUND MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

58.6 133.7 83.45 26.6 11.58 75.7 21.5 51.3 58.35 111 25.95 178.5 60.5 18.9 0.59 4.69 7.92 0.495 0.97 175 1,830 1.12

58.65 134 83.5 26.8 11.6 75.75 21.95 51.95 58.95 121.8 26 180.5 60.7 18.94 0.64 4.73 8.93 0.5 0.98 178 1,835 1.13

57.95 134 81.95 26.8 11.58 76.55 21.45 52.5 58.95 110.3 26 181 60.7 18.92 0.59 4.74 7.88 0.5 0.96 178 1830 1.13

58.65 134 83.8 26.8 11.8 76.8 21.5 53 59 110.3 26 181 60.7 19 0.59 4.77 8 0.5 0.98 178 1,830 1.13

57.8 132 81.95 26.4 11.54 75.2 21.45 51.1 58 110.3 26 178 60.5 18.92 0.59 4.61 7.88 0.495 0.95 174 1,830 1.13

58.65 134 83.45 26.8 11.58 75.75 21.5 51.3 58.95 110.3 26 180.5 60.5 18.94 0.59 4.73 7.89 0.5 0.98 175.5 1,830 1.13

18,730 2,022,640 3,281,870 88,900 129,900 3,452,900 1,100 108,550 4,250 100 1,500 380,900 1,470 89,300 5,000 88,000 1,100 308,000 690,000 1,670 10 9,000

1,097,154 270,442,147 273,748,005 2,364,005 1,516,636 260,871,720.5 23,625 5,609,900 250,558.5 11,030 39,000 68,402,376 89,025 1,691,874 2,950 414,750 8,713 152,715 668,090 294,125 18,300 10,170

INDUSTRIAL ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER VIVANT AGRINURTURE CNTRL AZUCARERA CENTURY FOOD DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT GINEBRA JOLLIBEE LIBERTY FLOUR MACAY HLDG MAXS GROUP MG HLDG PEPSI COLA SHAKEYS PIZZA ROXAS AND CO RFM CORP ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CONCRETE A CEMEX HLDG EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

1.38 37.4 0.236 21.7 78.3 381.8 22.4 6.21 4.42 1.43 11.84 44.7 6.9 15.7 16.1 14.6 15.36 10.74 7.38 114 0.87 28.55 302.6 50 10.48 15 0.197 1.23 12.52 1.64 4.8 2 0.128 142.1 1.37 2.5 68.35 2 15.9 9.4 11.4 22.05 9.04 0.97 1.18 108.1 1.96 3.4 4.8 45 2.49 12.46 1.74 6.08 1.26 27.8

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT KEPPEL HLDG B LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME ORION PRIME MEDIA SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.61 18.2 891 53.9 14.88 0.76 1.36 1.39 7.52 11.36 14.74 0.242 855.5 6.2 64.6 4.7 0.495 5.08 16.02 0.55 4.56 0.038 2.84 1.11 1.34 430 930.5 174 0.91 265 0.237 0.335

1.39 37.45 0.245 21.8 78.5 384 22.5 6.22 4.48 1.44 12.04 45 7.08 16.8 16.14 16.3 15.48 10.84 7.39 114.9 0.88 29.65 303 52.5 10.5 15.02 0.202 1.24 12.78 1.73 4.81 2.12 0.13 142.6 1.38 2.54 68.4 2.01 15.98 9.41 11.48 22.1 9.1 0.99 1.2 110 1.98 3.61 5.12 45.5 2.5 12.5 1.78 6.1 1.29 28

1.38 37.8 0.238 21.8 79 384 22.75 6.35 4.3 1.45 12 45.2 6.96 16 16.16 16.3 15.3 10.64 7.43 115.6 0.85 29.9 303 52.5 10.5 15 0.201 1.24 12.34 1.65 4.8 2.15 0.129 142.5 1.37 2.5 68.4 1.98 15.8 9.4 11.4 22.05 9.04 1 1.15 110 1.95 3.63 5 45 2.48 12.58 1.73 6.05 1.29 28.1

1.4 37.8 0.245 22.1 79.05 384 22.8 6.35 4.49 1.45 12.08 45.8 7.09 16 16.26 16.3 15.5 10.88 7.43 115.6 0.88 29.9 305 52.5 10.5 15.1 0.202 1.26 12.78 1.74 4.8 2.15 0.129 142.6 1.41 2.5 68.45 2.04 16 9.42 11.88 22.25 9.04 1 1.22 110 1.95 3.63 5.1 45 2.55 12.58 1.79 6.1 1.29 29

1.38 37.05 0.236 21.7 78.2 380.2 22.25 6.2 4.3 1.42 11.84 44.25 6.81 16 16.14 16.3 15.22 10.64 7.38 112.1 0.84 28.5 301.2 52.5 10.06 14.98 0.201 1.22 12.28 1.62 4.75 1.97 0.128 141.2 1.37 2.5 68.4 1.95 15.8 9.35 11.4 22 9.04 0.96 1.15 110 1.95 3.39 5 45 2.4 12.46 1.71 6.04 1.24 27.95

1.39 37.4 0.245 21.7 78.5 384 22.5 6.21 4.42 1.44 12.08 45 6.9 16 16.14 16.3 15.36 10.74 7.39 114.9 0.88 28.55 303 52.5 10.5 15.02 0.202 1.24 12.78 1.72 4.8 2.12 0.128 142.1 1.37 2.5 68.4 2 15.9 9.4 11.48 22.05 9.04 0.99 1.2 110 1.95 3.4 5.1 45 2.49 12.46 1.79 6.08 1.29 28

90,000 1,106,800 1,860,000 611,900 165,600 96,360 1,249,600 3,719,800 84,000 2,962,000 56,700 69,800 47,500 1,000 298,900 100 659,600 2,924,600 269,300 140,090 2,595,000 17,600 494,290 110 13,700 2,655,500 320,000 1,516,000 245,300 9,000 51,000 57,000 600,000 608,380 2,968,000 13,000 1,250 35,242,000 1,384,300 117,300 5,859,600 2,029,200 2,000 350,000 3,006,000 210 75,000 54,000 173,600 400 6,381,000 435,000 297,000 14,700 43,000 117,500

124,720 41,299,495 8 447,890 13,326,075 13,001,285.5 36,892,180 28,001,340 23,222,481(5, 370,510 4,244,270 681,374 3,120,485 330,905 16,000 4,828,038 1,630 10,130,832 31,485,396 1,990,140 15,997,028 2,240,800 508,085 149,795,242 5,775 140,870 39,868,902 64,360 1,874,620 3,062,034 15,270 244,750 121,270 77,000 86,321,754 4,106,950 32,500 85,506.5 70,397,250 22,099,348 1,100,338 67,717,268 44,749,270 18,080 338,780 3,604,030 23,100 146,250 187,040 868,250 ( 18,000 15,887,840 5,420,954 511,290 89,468 53,930 3,336,735

HOLDING & FRIMS 0.62 18.48 895 55 14.96 0.78 1.37 1.4 7.59 11.38 14.84 0.25 860 6.74 64.95 6 0.51 5.09 16.04 0.57 4.57 0.04 2.87 1.14 1.35 472 931 175 0.92 270 0.243 0.345

0.59 18.48 890 54.5 14.94 0.79 1.39 1.4 7.6 11.44 14.88 0.241 853 6.15 65 6.39 0.52 5.03 16.08 0.55 4.46 0.04 2.93 1.12 1.35 435 944 175 0.93 269 0.24 0.33

0.61 18.98 896.5 55.05 15 0.79 1.39 1.4 7.6 11.48 14.88 0.255 877 6.8 65 6.39 0.52 5.17 16.08 0.55 4.57 0.04 2.93 1.12 1.35 435 950 177.7 0.95 270 0.26 0.345

0.58 18.2 882.5 52.5 14.82 0.76 1.37 1.4 7.41 11.3 14.72 0.241 852.5 6.15 63.8 6.3 0.495 5.02 15.6 0.55 4.44 0.038 2.83 1.12 1.34 431 930.5 172.9 0.9 265 0.237 0.325

0.61 18.46 895 55 14.96 0.78 1.37 1.4 7.59 11.38 14.84 0.255 860 6.74 64.6 6.3 0.495 5.09 16.02 0.55 4.57 0.04 2.84 1.12 1.34 431 931 174 0.92 270 0.243 0.345

9,740,000 28,000 293,870 758,070 3,028,800 106,000 5,853,000 719,000 233,300 2,265,300 99,000 910,000 58,390 12,500 2,238,110 64,000 301,000 3,686,100 752,600 41,000 13,938,000 2,900,000 336,000 3,000 31,000 60 175,610 235,170 2,350,000 1,240 13,680,000 10,360,000

5,853,380 514,892 261,975,455 40,792,759 45,221,810 81,900 8,103,990 1,006,600 1,761,401 25,779,588 1,470,036 230,490 50,247,605 82,786 144,873,057 408,870 149,745 18,824,102 12,008,220 22,550 62,898,030 113,600 952,960 3,360 41,840 25,900 164,179,205 40,952,206 2,150,870 332,820 3,368,080 3,506,800

1,080,231.5 (4,652,793) 13,496,093 (637,430) (207,580) (72,344,398) (10,725) (2,220,787.5) 2,580,839 (22,385) 1,325,776 99,000 (400,820) (10,440) ,033,359.9999 243,270 (6,051,230) (8,151,238.5) 38,948 (7,075,910) 012,814.9997) (126,840) (382,555) 1,400 1,344,766 (370,544) (5,836,810) (99,015) 3,048,747 37,840 (50,768,514) 5,232 47,896 (317,540) (36,160,291) (11,200) 32,500 (36,263,710) (984,000) (16,088,184) 2,182,200 2,711.9999 (13,200) (87,990) 857,030.0001) 18,000 (1,293,760) 3,511,428 (468,395) (137,740) (1,857.9999) (41,614,915) (1,064,348.5) 8,038,492 824,599.9998 123,010 (10,866,458) (74,266) (20,962,765) 16,059,459 (2,314,408) 4,155,816 22,000 (11,029,730) (105,102,410) (3,031,160) (13,400) 12,500 (422,800)

PROPERTY

ARTHALAND CORP 0.79 0.8 0.79 0.81 0.77 0.8 1,197,000 943,260 AYALA LAND 48.3 48.5 49.5 49.6 48 48.5 20,647,000 1,011,146,290 103,715,055 ARANETA PROP 1.94 1.99 1.93 1.94 1.93 1.94 37,000 71,720 (58,200) BELLE CORP 2.43 2.45 2.43 2.46 2.42 2.43 138,000 335,990 (107,160) A BROWN 0.76 0.77 0.78 0.78 0.76 0.77 110,000 83,670 CITYLAND DEVT 0.91 0.92 0.92 0.92 0.9 0.91 96,000 88,010 9,900 CROWN EQUITIES 0.237 0.242 0.237 0.244 0.237 0.237 3,220,000 763,460 CEBU HLDG 6.32 6.39 6.35 6.35 6.32 6.32 2,200 13,910 CEB LANDMASTERS 4.32 4.35 4.36 4.36 4.3 4.35 887,000 3,849,850 92,620 CENTURY PROP 0.5 0.51 0.52 0.52 0.5 0.51 4,448,000 2,258,790 22,440 DOUBLEDRAGON 25.4 25.45 25.7 25.85 25.1 25.4 785,900 19,984,895 5,908,015 DM WENCESLAO 11.06 11.08 10.74 11.1 10.52 11.08 499,900 5,420,480 (1,260,894) EMPIRE EAST 0.485 0.495 0.49 0.49 0.49 0.49 1,190,000 583,100 FILINVEST LAND 1.51 1.52 1.53 1.54 1.51 1.52 18,738,000 28,499,300 (23,904,880) GLOBAL ESTATE 1.32 1.33 1.31 1.32 1.31 1.32 445,000 584,620 8990 HLDG 14.6 14.76 14.88 14.88 14.5 14.76 2,049,500 29,986,266 279,918 PHIL INFRADEV 1.74 1.75 1.69 1.78 1.64 1.75 4,523,000 7,829,940 (773,000) CITY AND LAND 0.83 0.84 0.83 0.84 0.83 0.83 78,000 64,820 MEGAWORLD 5.53 5.55 5.56 5.57 5.49 5.55 29,353,100 162,852,204(92 ,801,153.9996) MRC ALLIED 0.335 0.34 0.335 0.34 0.33 0.34 8,000,000 2,653,250 (0) PHIL ESTATES 0.475 0.5 0.47 0.5 0.47 0.5 120,000 57,200 PRIMEX CORP 2.45 2.48 2.5 2.5 2.41 2.48 299,000 733,490 (93,700) ROBINSONS LAND 24.3 24.5 24.2 24.5 23.7 24.5 1,043,600 25,489,240 765,330 PHIL REALTY 0.435 0.45 0.43 0.44 0.43 0.44 170,000 74,400 ROCKWELL 1.96 2 2 2 2 2 7,000 14,000 SHANG PROP 3 3.04 2.99 3.04 2.97 3.04 142,000 424,290 STA LUCIA LAND 1.79 1.8 1.69 1.82 1.69 1.8 8,043,000 14,200,420 (274,350) SM PRIME HLDG 40.8 40.9 40.9 41.8 40.55 40.9 6,200,600 254,266,640 35,224,405 STARMALLS 6.97 7.05 7.12 7.12 6.9 7.05 107,400 752,928 (34,545) VISTA LAND 7.36 7.37 7.32 7.48 7.31 7.37 2,551,400 18,877,644 (759,698) SERVICES ABS CBN 18.98 19 19.02 19.14 18.9 19 102,500 1,948,846 GMA NETWORK 5.17 5.18 5.13 5.18 5.13 5.17 82,100 423,086 MANILA BULLETIN 0.57 0.6 0.61 0.61 0.58 0.58 672,000 393,210 MLA BRDCASTING 15.1 15.88 15.2 16 15.08 16 3,400 51,628 GLOBE TELECOM 1,766 1,771 1780 1,780 1,762 1,766 36,495 64,472,820 29,266,865 PLDT 1,218 1,220 1235 1,235 1,214 1,220 97,555 119,047,115 48,350,430 APOLLO GLOBAL 0.039 0.04 0.039 0.039 0.039 0.039 2,200,000 85,800 IMPERIAL 1.85 1.94 1.85 1.95 1.85 1.94 8,000 15,350 ISLAND INFO 0.126 0.129 0.129 0.129 0.125 0.126 1,130,000 144,060 ISM COMM 5.06 5.07 5.13 5.16 5 5.06 1,383,900 7,007,853 116,248.9997 NOW CORP 2.31 2.33 2.34 2.35 2.3 2.33 1,516,000 3,514,560 25,460 TRANSPACIFIC BR 0.365 0.37 0.37 0.37 0.365 0.37 2,750,000 1,011,200 367,500 PHILWEB 3.18 3.19 3.04 3.25 3.04 3.18 4,572,000 14,394,050 2GO GROUP 12.64 13.04 13 13.04 12.62 12.64 49,300 640,872 ASIAN TERMINALS 15.66 15.7 15.58 15.7 15.58 15.66 8,600 134,666 (15,700) CHELSEA 5.35 5.37 5.33 5.47 5.33 5.37 1,030,700 5,540,563 95,120 CEBU AIR 81.6 81.65 81.2 81.95 81.15 81.6 23,440 1,911,563 (748,766) INTL CONTAINER 123.6 125.2 124.4 126.2 123.2 125.2 2,036,500 254,171,626 81,511,906 LBC EXPRESS 15.16 15.74 15.74 15.74 15.74 15.74 200 3,148 LORENZO SHIPPNG 0.84 0.85 0.84 0.84 0.81 0.84 501,000 416,000 MACROASIA 21.55 21.6 21.7 21.7 21.55 21.6 501,800 10,842,410 4,016,090 METROALLIANCE A 1.8 1.82 1.84 1.84 1.84 1.84 10,000 18,400 PAL HLDG 10.2 10.38 10 10.38 10 10.2 5,000 50,530 HARBOR STAR 2.77 2.78 2.85 2.87 2.78 2.78 2,693,000 7,571,870 BOULEVARD HLDG 0.069 0.07 0.07 0.071 0.069 0.07 21,710,000 1,518,550 14,000 DISCOVERY WORLD 2.05 2.17 2.06 2.06 2.06 2.06 1,000 2,060 WATERFRONT 0.67 0.68 0.66 0.68 0.66 0.68 319,000 213,630 6,700 FAR EASTERN U 890 895 890 890 890 890 100 89,000 IPEOPLE 11.48 11.5 11.02 11.48 11.02 11.48 11,800 135,418 (1,102) STI HLDG 0.67 0.68 0.68 0.68 0.67 0.68 1,067,000 715,350 (147,100) BERJAYA 2.52 2.53 2.57 2.63 2.45 2.53 410,000 1,038,340 (22,540) BLOOMBERRY 12.94 12.98 12.98 13 12.76 12.98 8,091,200 104,971,530 (55,104,440) PACIFIC ONLINE 4.29 4.33 4.3 4.33 4.29 4.32 22,000 94,970 (12,990) LEISURE AND RES 3.75 3.76 3.75 3.75 3.65 3.75 927,000 3,418,210 (1,937,100) MANILA JOCKEY 4.65 4.74 4.75 4.75 4.75 4.75 10,000 47,500 PH RESORTS GRP 4.16 4.3 4.17 4.29 4.16 4.29 69,000 288,980 PREMIUM LEISURE 0.75 0.76 0.75 0.77 0.73 0.75 3,544,000 2,670,600 (138,910) PHIL RACING 7.5 8.24 8.45 8.45 8.45 8.45 100 845 TRAVELLERS 5.61 5.64 5.63 5.63 5.62 5.62 34,800 195,809 (35,440) METRO RETAIL 3.43 3.44 3.4 3.45 3.39 3.43 2,902,000 9,932,760 92,140 PUREGOLD 43.6 43.8 44.2 44.25 43.6 43.6 3,934,700 172,864,830 (24,285,515) ROBINSONS RTL 77.7 78.3 78.2 78.3 77.25 78.3 68,530 5,359,596 35,597 PHIL SEVEN CORP 118 118.5 116.5 118 116.5 118 194,140 22,906,020 484,840 SSI GROUP 2.8 2.81 2.69 2.8 2.68 2.8 25,811,000 71,460,670 26,638,280 WILCON DEPOT 16.5 16.6 16.8 16.8 16.5 16.5 1,131,800 18,904,548 (1,923,216) APC GROUP 0.415 0.43 0.43 0.435 0.42 0.43 340,000 143,750 84,100 EASYCALL 13 13.26 13.52 14 12.54 13.26 379,200 5,029,188 GOLDEN BRIA 406 418.4 408.2 419.6 408 418.4 1,740 725,748 IPM HLDG 6.96 6.99 7.04 7.04 6.98 6.98 15,000 105,310 PAXYS 3.03 3.25 3.37 3.37 3.1 3.1 17,000 53,160 (18,660) PRMIERE HORIZON 0.93 0.94 0.97 0.98 0.93 0.94 22,938,000 21,786,090 (1,841,740) MINING & OIL ATOK 11.56 11.96 12.7 12.74 11.54 12 16,400 193,472 APEX MINING 1.33 1.34 1.38 1.38 1.31 1.33 2,055,000 2,741,220 (805,030) ABRA MINING 0.0019 0.002 0.002 0.002 0.0018 0.002 1 ,464,000,000 2,783,600 ATLAS MINING 2.82 2.87 2.87 2.87 2.87 2.87 3,000 8,610 BENGUET A 1.3 1.46 1.5 1.5 1.5 1.5 1,000 1,500 BENGUET B 1.35 1.42 1.42 1.42 1.42 1.42 3,000 4,260 COAL ASIA HLDG 0.29 0.3 0.29 0.3 0.29 0.29 870,000 252,800 CENTURY PEAK 2.67 2.68 2.72 2.72 2.68 2.68 807,000 2,163,520 DIZON MINES 8.05 8.06 8.06 8.14 7.99 8.05 10,000 80,476 FERRONICKEL 1.51 1.53 1.52 1.54 1.51 1.53 13,094,000 19,966,180 GEOGRACE 0.249 0.255 0.255 0.265 0.248 0.255 2,660,000 671,370 LEPANTO A 0.112 0.114 0.112 0.112 0.11 0.112 2,450,000 270,570 MARCVENTURES 1.08 1.09 1.09 1.09 1.09 1.09 1,000 1,090 NIHAO 1.01 1.02 1 1.03 0.99 1.01 271,000 270,150 NICKEL ASIA 2.44 2.47 2.47 2.47 2.43 2.44 175,000 428,050 (85,580) OMICO CORP 0.59 0.61 0.6 0.61 0.59 0.59 17,000 10,170 ORNTL PENINSULA 0.91 0.92 0.91 0.92 0.91 0.92 40,000 36,520 PX MINING 3.16 3.17 3.15 3.17 3.15 3.17 270,000 852,680 (69,350) SEMIRARA MINING 23.55 23.6 23.7 23.7 23.6 23.6 756,300 17,875,645 15,700,250 ORNTL PETROL A 0.011 0.012 0.012 0.012 0.012 0.012 308,600,000 3,703,200 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 220,000,000 2,640,000 369,600 PHILODRILL 0.011 0.012 0.012 0.012 0.011 0.011 3,300,000 39,100 PXP ENERGY 8.86 8.93 8.48 9.21 8.26 8.93 6,693,100 59,584,456 2 ,304,915.9998 PREFFERED AC PREF B1 468 475 474.8 475 474.8 475 90 42,746 AC PREF B2 497 497.2 497 497 497 497 200 99,400 ALCO PREF B 96.35 101.8 97.3 97.3 96 96 6,400 620,640 DD PREF 97 97.9 97 97 97 97 430 41,710 SMC FB PREF 2 970 975 980 980 970 970 840 815,000 MWIDE PREF 100.5 102.9 100.1 100.1 100.1 100.1 2,000 200,200 PNX PREF 3B 104 106 106 106 106 106 100 10,600 SFI PREF 1.45 1.65 1.65 1.65 1.65 1.65 1,000 1,650 SMC PREF 2C 76 76.9 76.9 76.9 76.9 76.9 130 9,997 SMC PREF 2D 72.5 72.9 72.9 72.9 72.9 72.9 90 6,561 SMC PREF 2E 72 73 72.5 73 72 72 504,780 36,344,809 SMC PREF 2F 74 74.2 74 74 74 74 50 3,700 SMC PREF 2G 73 74.4 73 74.4 73 74.4 67,480 4,967,044 SMC PREF 2I 72.25 73.4 73.4 73.45 73.4 73.45 6,000 440,625 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

18.4 5.01

18.5 5.1

18.5 5.01

18.5 5.1

18.5 5

18.5 5.1

2,400 29,300

44,400 149,001

WARRANTS LR WARRANT

1.92

SMALL & MEDIUM ENTERPRISES ITALPINAS XURPAS

5.15 1.16

FIRST METRO ETF

117

1.93

1.91

1.92

1.91

1.92

69,000

132,260

5.19 1.17

5.32 1.16

5.37 1.17

5.12 1.15

5.15 1.16

1,051,200 1,329,000

5,502,644 1,538,850

EXHANGE TRADE FUNDS 117.7

117.5

117.9

117

117.7

4,790

562,777

524,988 (103,400) -

www.businessmirror.com.ph

WMPC to supply power to Zamcelco for 60 days

By Lenie Lectura

@llectura

ESTERN Mindanao Power Corp. (WMPC) and Crown Investments Holdings Inc., the investor-manager of the Zamboanga City Electric Cooperative (Zamcelco), agreed over the weekend that the former would resume the supply of power to the electric cooperative. This developed after the Energy Regulatory Commission (ERC) “convinced” both parties to enter into a compromise agreement, pending resolution of the dispute between Zamcelco and WMPC. “The ERC convinced the parties to enter into a compromise for a period of 60 days. We have been asked to pay

partially two invoices that are pending. In the meantime, WMPC will run their power plant during this compromise situation, which dramatically lessens the frequency of brownouts,” Crown representative Jomar Castillo, a lawyer, said. This is Crown’s third offer of partial payment to cover for WMPC’s opera-

tional and fuel costs. The first offer of P150 million was made in February. The second offer of P220 million was made on April 3. WMPC rejected both offers. Zamcelco and WMPC have been locked in a dispute since the new management of the power co-op discovered that WMPC overbilled it in the amount of P441 million over three years. WMPC suspended its supply to the city within days of Zamcelco’s notice to WMPC regarding this irregularity. This discovery led to Crown-Zamcelco’s refusal to pay outstanding invoices from WMPC, as the overpaid amount more than covers the balance. For this compromise offer, Crown agreed to pay the outstanding invoices for October and November 2018, amounting to approximately P204 million. Following receipt of this sum, WMPC will immediately run its plant for 60 days. Crown also said it will begin to nominate power from WMPC

on April 29. The compromise will not affect the motion that Zamcelco filed with the ERC on April 6. Zamcelco had contested WMPC’s billing of contracted capacity, which accounted for the overpayment. The motion claimed for the refund of the overbilled sum of P441 million, as well as the confirmation of the withdrawal of the application for the PSA between Zamcelco and WMPC. The motion argued the PSA between the two had never been in effect because two conditions for effectivity had not yet been met: the ERC’s approval of the PSA, and an “A” rating from NEA resulting from the awarding of the investment-management contract to a private utility. “The compromise is without prejudice. All the pending incidents before the ERC will continue,” Castillo said. The compromise agreement will be submitted to the ERC by Monday.

LAS PIÑAS DISMISSES PERJURY CASE VS. OKADA MANILA OWNER By Joel R. San Juan

@jrsanjuan1573

APANESE gaming tycoon Kazuo Okada suffered another setback after the Las Piñas Office of City Prosecutor dismissed the perjury case filed by his personal company Aruze Philippines. Manufacturing Inc. (APMI) against the chief executive adviser of Tiger Resort Leisure and Entertainment Inc.(TRLEI), the owner of Okada Manila. APMI filed three counts of perjury complaint against TRLEI executive Diondo Espeleta for accusing Okada’s firm of falsely claiming to manufacture light emitting diode (LED)

strips which it supplied for Okada Manila’s building facade. In a resolution, Las Piñas City Senior Assistant Prosecutor Donald Macasaet said the elements of perjury were absent in the statements made by Espeleta against APMI when he filed TRLEI’s estafa complaint against APMI. “There is no falsity that can be attributed against herein respondent when he alleged in his complaint affidavit that complainant corporation is not authorized to manufacture LED strips suitable for outdoor use,” the resolution read. The perjury case was filed originally at the

STOCK-MARKET OUTLOOK LAST WEEK

SHARE prices managed to post gains last week despite sporadic buying and selling after investors came from the long holiday break. The benchmark Philippine Stock Exchange index gained 33.13 points to 7,868.28 points. Daily average trading for the week was at P5.42 billion as foreign investors were net buyers at P3.39 billion. “The PSEi slipped 26 points on Friday, but manages to hold over its critical short-term support structure of 7,770-7,730. As long as it manages to keep itself over this threshold, it may maintain its consolidating range from that low to 8,800,” said Juanis Barredo, COL Financial Group’s chief technical analyst. The main index was down for the first two days of the week, then went up during the next two, before giving up points on Friday. Most of the subindices ended higher with the exception of the Industrial index that fell 215.62 to 11,397.31 and the Services index that dropped 21.88 to 1,585.73. The broader All Shares index gained 19.67 to 4,856.35; the Financials index was up 2.09 to 1,743.79; the Holding Firms index rose 40.77 to 7,535.66; the Property index surged 111.97 to 4,292.32; and the Mining and Oil index was up 65.92 to 7,800.34. For the week, losers edged gainers 99 to 126 and 24 shares were unchanged. Top gainers were Keppel Philippines Holdings Inc. B, PXP Energy Corp., Easycall Communications Philippines Inc., MJC Investments Corp., Philippine Racing Club Inc. and 8990 Holdings Inc. Top losers were Greenergy Holdings Inc., Benguet Corp. B, Philippine Infradev Holdings Inc., Mabuhay Vinyl Corp., Lepanto Consolidated Mining Co. and Concrete Aggregates Corp. A.

THIS WEEK

SHARE prices are expected to be volatile during the four-day trading week as investors are still calculating their options ahead of the May elections. There will be no trading on May 1, Labor Day. “Expect volatility...with a few days left prior to the May 13 local political race. For now, selective stories are in play, with scheduled first-quarter briefings from index shares,”online broker 2TradeAsia said. It sees immediate support at 7,800 points and resistance at 8,000 points. “For now, we shall still see sporadic and isolated action from issues as we see a mixed number of stocks still performing corrective drives. This may force short-term players to be highly selective and less too broad in scope,” Barredo said.

STOCK PICKS

BROKER Regina Capital and Development Corp. advised to buy the shares of Ayala Land Inc. on pullbacks after the stock posted its seven consecutive increase before correcting on Friday. “This is a clear breakout from its weeklong upper limit of 47.44, and places ALI in an uncharted territory. At the very least, participants can expect the former resistance to revert to its immediate support. But as to how far ALI can stretch its rally will depend on volume and how fast profit-taking will kick in,” it said. “As to be expected, all indicators are treading heavily on the overbought level,” it said. It gave a support on the stock at P47.44 and resistance at P50 per share. Shares of Ayala Land closed on Friday at P48.50 apiece. The broker gave a hold recommendation on the stock of Puregold Price Club Inc. as it is hovering on its year-to-date support. “At this point, the selling pressure on Puregold might not be over, as it might have closed above the year-to-date support of P43.05, but it still reached the one-year support of P42.14 intraday,” it said. “Even indicators are bearish...Most prudent action is to wait for the stock to establish a firmer direction,” it said. The broker gave a resistance on the stock at P46.07 and a weekly target of P44 per share. Puregold shares closed last week at P43.60. VG Cabuag

Parañaque City prosecutor’s office, but the Parañaque prosecutor inhibited, prompting the Department of Justice to assign the Las Piñas City prosecutor to the case. APMI accused Espeleta of committing per-

MUTUAL FUNDS

jury for claiming in the TRLEI estafa case filed against the former that it made false representations when it entered into a deal to supply TRLEI with LED strips for outdoor use in the Okada hotel casino. April 26, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM GROWTH FUND, INC. -A 262.94 1.51% 1.25% 1.07% 4.25% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5936 3.23% 9.75% 2.98% 10.61% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.1235 0.46% 1.78% 0.27% 5.65% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9286 2.13% N.A. N.A. 4.28% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8703 5.29% N.A. N.A. 6.04% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4932 4.69% 1.37% 0.91% 4.21% MBG EQUITY INVESTMENT FUND, INC. -A 127.22 11.07% N.A. N.A. 9.24% ONE WEALTHY NATION FUND, INC. -A 0.8764 2.04% -3.45% N.A. 5.29% PAMI EQUITY INDEX FUND, INC. -A 52.078 4.64% 2.24% N.A. 5.84% PHILAM STRATEGIC GROWTH FUND, INC. -A 543.85 4.05% 1.24% 0.92% 5.66% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3123 4.64% 2.82% 3.8% 4.65% PHILEQUITY FUND, INC. -A 38.6647 4.74% 3.6% 3.1% 5.55% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0401 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2741 5.01% 3.15% 3.25% 6.36% PHILIPPINE STOCK INDEX FUND CORP. -A 880.33 5.14% 2.83% 3.18% 6.26% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9347 7.34% 2.21% N.A. 8.53% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3319 6.28% 3.26% 2.42% 6.73% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0122 4.61% 2.83% N.A. 6.07% UNITED FUND, INC. -A 3.7402 6.92% 5.26% 3.23% 6.83% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 117.7728 5.48% 3.9% 4.26% 6.34% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.0318 -5.26% 6.7% 1.44% 11.05% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2983 1.83% N.A. N.A. 17.48% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7225 1.69% -0.4% -1.36% 4.32% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3194 1.31% 1.36% 0.82% 4.99% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6378 3.77% -0.43% -1.46% 3.7% GREPALIFE BALANCED FUND CORPORATION -A 1.3533 0.62% N.A. N.A. 3.76% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.918 3.88% 1.37% 1.29% 4.06% PAMI HORIZON FUND, INC. -A 3.6759 2.32% 0.09% 0.38% 4.15% PHILAM FUND, INC. -A 16.5948 3.33% 0.29% 0.43% 4.32% SOLIDARITAS FUND, INC. -A 2.1415 2.79% 1.65% 2.05% 3.34% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8539 4.83% 1.5% 1.53% 5.55% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.9984 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9959 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.9943 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9819 4.84% 1.54% N.A. 6.53% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03607 3% 0.39% 1.53% 2.33% PAMI ASIA BALANCED FUND, INC. -A $0.9975 -5.03% 3.59% -2.32% 6.55% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7304 1.9% 6.23% 3.02% 12.76% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0938 0.93% N.A. N.A. 8.3% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 347.91 2.87% 2.08% 2.15% 1.32% ATRAM CORPORATE BOND FUND, INC. -A,1 1.8843 0.93% -0.15% -0.22% 1.35% COCOLIFE FIXED INCOME FUND, INC. -A 3.0192 5.33% 5.26% 5.3% 1.63% EKKLESIA MUTUAL FUND INC. -A 2.1597 2.41% 1.16% 1.81% 1.37% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2542 1.87% 0.33% 0.87% 2.03% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6035 0.79% -0.82% 0.2% 2.5% PHILAM BOND FUND, INC. -A 4.0304 1.93% -0.41% 0.68% 2.82% PHILEQUITY PESO BOND FUND, INC. -A 3.6087 3.24% 1.04% 1.2% 2.6% SOLDIVO BOND FUND, INC. -A 0.9187 1.42% -0.47% N.A. 2.92% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.8863 4.57% 1.3% 1.73% 4.35% SUN LIFE PROSPERITY GS FUND, INC. -A 1.5995 4.08% 0.71% 1.24% 3.87% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $454.31 2.87% 1.78% 2.85% 1.35% ALFM EURO BOND FUND, INC. -A Є216.14 1.55% 1.4% 1.6% 1.64% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1673 4.63% 1.61% 2.31% 3.69% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0252 2.02% 0.67% N.A. 1.61% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7133 0.45% -1.37% 0.88% 1.37% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC -A $1.0625 2.71% -0.62% -2.33% 2.4% PHILAM DOLLAR BOND FUND, INC. -A $2.2592 4.84% 0.33% 2.77% 4.05% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0581918 2.75% 1.16% 1.78% 2.12% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9756 2.49% -0.17% 2.09% 3.6% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 122.56 3.51% 2.21% 1.8% 1.42% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0089 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.1969 2.79% 1.22% 0.78% 1.27% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2352 3.3% 2.51% 1.88% 1.33% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0239 2.07% N.A. N.A. 0.79% A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU). 1 - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018. 2 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST JUNE 5, 2018. 3 - LAUNCH DATE IS JANUARY 3, 2019. 4 - LAUNCH DATE IS JANUARY 28, 2019. 5 - LAUNCH DATE IS FEBRUARY 1, 2019.

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Monday, April 29, 2019

NFA, NIA received giant slab DA council honors outstanding loan of natl govt subsidies in Q1

By Rea Cu @ReaCuBM

HE National Irrigation Administration (NIA) and the National Food Authority (NFA) received the biggest chunk of national government subsidies in the first quarter totaling P9.304 billion. Data from the Bureau of the Treasury (BTr) showed the NIA received P5.769 billion while the NFA, P1.065 billion. Based on data from the BTr, the subsidy made by the government for the first quarter of this

year amounted to P9.304 billion, which is lower by 79.45 percent from the P45.288 billion disbursed in the same period last year. Broken down, governmentowned and -controlled corpo-

rations that received a subsidy under the billion mark includes: Philippine National Railways with P296 million, Philippine Children’s Medical Center with P277 million, National Power Corp. with P273 million, Philippine Fisheries Development Authority with P262 million, Small Business Corp. with P250 million, Philippine Heart Center with P242 million, Philippine Coconut Authority with P207 million, National Kidney and Transplant Institute with P150 million and Philippine Rice Research Institute with P147 million. Also included in the list of recipients for the period are: the Cultural Center of the Philippines received P72 million, the Lung Center of the Philippines with P71 million, the Center for International Trade Expositions and Missions with P42 million, the Philippine Insti-

tute for Development Studies with P33 million and the Subic B ay Met ropol it a n Aut hor it y with P19 million. Furthermore, the Philippine Institute of Traditional and Alternative Health Care (Pitahc) and the People’s Television Network Inc. (PTNI) received P18 million each. Other entities that received subsidies include the following: the Light Rail Transit Authority with P15 million; Bases Conversion and Development Authority and the Tourism Infrastructure and Enterprise Zone Authority with P14 million each; Aurora Pacific Economic Zone and Freeport Authority, Souther n Philippines Development Authority and Zamboanga City Special Economic Zone Authority with P12 million each; National Dairy Authority with P9 million; and, Credit Information Corp. with P5 million.

Perspectives

IT innovations are driving the IT work force from ‘doer’ to ‘enabler’

HE view that technology and business strategies are separate is rapidly being replaced by the realization that technology enables almost every business function. Going forward, information-technology (IT) leadership will be charged with putting the customer at the heart of strategy, linking technology investment to the profitability of transformation goals and effectively integrating technology into the business. They will also be charged with collaborating with business and operations partners, and evangelizing the potential of new technologies. The perception is shifting of what IT can do and how it can enable businesses to serve customers. A number of IT trends are forcing companies to rethink how they use and manage IT. These include the growing customer-centricity of products and services, the rapid proliferation of SaaS and cloud-based IT solutions, t he increasing use of intelligent automation, and the growing commoditization of technology as a service.

Given the rate and breadth of change, IT functions should already be shifting dramatically away from cumbersome “technology implementations” and toward driving business results through effective use of technology across all functions. In this era of change, the chief information officer has an opportunity to help create an ecosystem of technology talent throughout the enterprise. By embracing the role of IT as the enterprise technology champion and modern architect, they can ensure that the capabilities necessary to deliver technology transformation are available when needed in the years ahead. Further, CIOs can break down the silos of central control and help everyone across the enterprise leverage technology systems and expertise to deliver omni-channel experiences. They can also be at the forefront of changing the way we work, introducing technologies to support the remote professional, and enabling collaboration across the enterprise and with outside stakeholders.

In the future, CIOs will become comfortable with the democratization of technolog y, working collaboratively with and among business units in leveraging technology to the organization’s advantage.

Advancing the IT work force

PERHAPS the greatest shift in the future will be the recognition that IT’s biggest asset and biggest risk is not technology, but people. In order to adapt and thrive in the digital economy, leading organizations are looking beyond just building an IT work force. Instead of working only within the IT function, people with technology skills are mapped more closely to business problems and measured on their ability to drive business value. CIOs are in a unique position to help drive this cultural change, but only if they adopt modern deliver y practices, help tear down functional divides, and facilitate collaboration and constant experimentation. Consider a few key numbers: orga n i z at ions a re i nvest i ng

heavily in technology, particularly in cloud and mobile technologies, but also increasingly in artificial intelligence. Fortynine percent of CIOs report their IT budgets have increased over the past year, while 47 percent said they have increased IT headcount. This trend is expected to continue, with 48 percent of CIOs planning to increase their IT budget over the coming year. This investment in technology is concurrent with growth in business-led IT hardware and soft ware not suppor ted by an organization’s centra l IT function. The excerpt was taken from the KPMG publication, entitled The Flexible IT Workforce. © 2019 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG network of independent member-firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in the Philippines. For more information on KPMG in the Philippines, you may visit www.kpmg.com.ph.

RBI ordered to disclose critical reports on banks

NDIA’S top court directed the central bank to disclose its inspection reports on lenders to allow people to gauge their health. The order was the “last opportunity” to avoid initiation of contempt proceedings against Reserve Bank of India Governor Shaktikanta Das, a two-judge bench of the Supreme Court headed by Justice L.N. Rao ruled last Friday. The central bank will comply with the order, the RBI’s lawyer informed the court. The decision is a boost for transparency in central bank’s functioning and banking sector in India, which has the highest stressed-asset ratio among the world’s major economies. The central bank will have to make public the reports, which according to the RBI contain critical information such as risk of failure and other financial details that “may result in unwarranted panic” or even a run on the bank. Individuals and activists had sought the annual inspection reports for ICICI Bank Ltd., Axis Bank Ltd., HDFC Bank Ltd. and State Bank of India under the right to information law. A person is not obliged to give a reason for seeking information from a government body while seeking any information under the law. Activists had also sought the list of loan defaulters from the central bank. The top court had in 2015 held that the central

BLOOMBERG

bank would have to disclose the information, saying it had to act in public interest. The central bank subsequently put in place a “disclosure policy” stating that such information cannot

be shared, prompting petitioners and activists to seek contempt of court action against the central bank’s governor. In Friday’s verdict, the court ordered the RBI to withdraw the policy. Bloomberg News

borrowers, conduits T

HE Department of Agriculture (DA), through the Agricultural Credit Policy Council (ACPC), on Friday launched the “Gawad sa Paglingap sa Magsasaka at Mangingisda [Gawad Lingap]” awards to partner lending conduits, and small farmer and fisherfolk borrowers of the Production Loan Easy Access (PLEA). Themed as “Sharing the Vision, Fulfilling the Mission,” the activity recognizes outstanding partner lending conduits under the PLEA in addressing the financial needs of small farmers and fisherfolk, especially in the unbanked areas, for a fast, convenient and affordable credit. Likewise, inspiring farmer and fisherfolk borrowers, who showed exemplary accomplishment in the utilization and repayment of their loans under the PLEA, were also honored during the event, held at the Crowne Plaza Manila Galleria, Ortigas Center, Pasig City. “This is a great opportunity for DA-ACPC to express our gratitude to our program partners for their unwavering commitment and support in the implementation of the PLEA,” ACPC Executive Director Jocelyn Alma R. Badiola said. “The success of PLEA would not have been possible without the strategic leadership and guidance of Secretary Piñol, and the support and assistance of the whole DA family,” she added. Coinciding with the recognition was the launch of the Pilipinas Agila Tires, the first farmerowned motorcycle tire brand in the country. A g r icu lture Secretar y Emmanuel F. Piñol said the launching of Pilipinas Agila Tires marks the first attempt of the DA to elevate the Filipino farmers from the status of primary materials

producer to the level of processor, manufacturer and merchandiser of their farm produce. The Pilipinas Agila Tires is a product of the Philippine Rubber Farmers’ Cooperative (PRFC), which was organized by the DA two years ago as part of its program to elevate rubber farmers to the level of processors. Piñol said the cooperative received a P10-million loan from ACPC to start the tire manufacturing business which the PRFC will repay at 6-percent interest per year for a period of eight years. The initial production will just be one motorcycle tire size (300 x 17) used in tricycles and utility motorcycles. The event also featured an exhibit of various agri-fishery products by DA-ACPC partner lending conduits nationwide. Aside from the Pilipinas Agila Tires, other products to be displayed are vegetables, processed food, nuts, organic food, rice, dairies, mushrooms, sardines, abaca, cacao, cassava, among others. Meanwhi le, Piñol said the PLEA credit facility offers noncollateralized loans to small farmers and fisherfolk at 0.5 percent per month with free crop insurance, and flexible repayment schedule and convenient loan maturity. The DA-ACPC implements the PLEA through lending conduits, which include grassroots-based orga ni zat ions, suc h as r u ra l banks, cooperative banks, cooperatives and nongovernment organizations. Since its launch in Malimono, Surigao del Norte, on June 23, 2017, PLEA has disbursed P1.66 billion through 166 lending conduits, benefitting an estimated 37,084 small farmers and fisherfolk, and recording a 91 percent repayment rate as of January 2019. PNA

InLife accident insurance package, starting at ₧195, now available via Lazada PH

CCIDENTS happen everywhere, and when they do, related expenses could leave pockets dry if one is not prepared for them. For as low as P195, one can be prepared for these unfortunate events through Insular Life’s (InLife) Shield Series. InLife’s Shield Series is an affordable accident insurance package that one may avail oneself of via Lazada, the leading e-commerce platform in Southeast Asia. “Everyday, we face risks: at home, at work, in school, everywhere. In fact, four deaths while 193 injuries in every 100,000 are due to accidents. The Shield Series gives Filipinos, especially family breadwinners who have little or no insurance coverage at all, protection against the immediate needs accidents bring. Accidents are unforeseen events, but while they are unexpected, it would be to our advantage if we are prepared for them,” said InLife Chief Marketing Officer Miriam Z. Choa. InLife’s Shield Series has four plans that give protection for one whole year: Junior Shield for P195.00, Family Shield for P260, Parent Shield for P285 and the Legacy Shield for P355. All Shield plans give accidental death and disability benefits, plus allowances to fund accidental medical and surgical expenses. InLife’s Shield Series is an exclusive offer to eligible Lazada PH members who are residents of the Philippines between 18 and 64 years old, and in good health at the point of application. Similar to all other Lazada transactions, one-time premium payments may be made via credit card, debit card or Lazada e-Wallet.

B4 Monday, April 29, 2019

TAKE YOUR INSTAGRAM SUMMER FEED TO A WHOLE NEW LEVEL! HYUNDAI LEADS 1ST QUARTER WITH 12.5% SALES UPSURGE

NE of the country’s leading automotive companies Hyundai Asia Resources Inc. (Hari), the official distributor of Hyundai passenger cars and commercial vehicles in the Philippines, reported sales of 9,949 units in the first quarter of 2019. This represents a substantial increase of 12.5 percent versus sales of 8,847 units for the same period last year. For March 2019 alone, Hari sold 3,412 units, or a 6-percent increase from

last March. Hyundai’s passenger car (PC) segment sold 5,404 units for the first quarter. The segment’s growth slackened by 12.9 percent. Net of sales of models phased out in 2018, PC sales actually increased by over 22 percent. Hyundai remains confident that the release of the all-new Accent and especially Reina will reinvigorate and maintain its position as the brand’s main volume drivers for PC. Barely three months after its launch, the Reina has already

L contributed nearly 16 percent of Hyundai’s total first-quarter sales. The light commercial vehicle (LCV) segment continues to be the bright spot in the industry, significantly increasing by 70.5 percent, or 4,306 units, in the first quarter of 2019, compared to the 2,526 units sold in the same period of the previous year. A large portion of this growth can be attributed to strong demand for the Kona crossover, which now accounts for 24 percent of Hari’s LCV business, and the versatile H-100 contributing 44 percent to total sales. Driving the ascent of Philippine business is Hyundai’s trucks and buses, which closely mirrors the economic buildup as a result of the government’s infrastructure program. Hari’s commercial vehicle (CV) business more than doubled over the period, growing by 106 percent. Hyundai plans to make its high-quality CVs more accessible with the construction of seven additional dedicated CV dealerships across the country, on top of the six fully operational ones in major growth areas. Hari is, likewise, dedicated on making its mark in alternative fuel vehicles (AFVs) as part of its initiative to bring Hyundai’s premium eco-friendly PC models, such as Ioniq, to the mainstream, in response to the ever-growing concern about climate change.

OOKING for exciting content for your feed? This is your chance to give your social media that extra boost with this made-forInstagram paradise! Discover the bright and exciting world of FutureGram as SM City North and Stabilo elevates your Instagram feed to a whole new level. FutureGram, a colorful world that covers over 500 square meters filled with more than 20 walk-in sets to touch, pose, interact, create stories, boomerang and take photos with, is an endless collection of creative visual spaces that tickle the imagination of the camera crazy. Don’t just tap, be part of your story with FutureGram! And it doesn’t end there. Vloggers will surely go crazy over with four interactive mood rooms exclusively designed to provide

a compelling visual. Have fun with lights, shadows, mirrors and reflections while creating that cool quick video for your stories! Touted as the biggest and most anticipated project that Stabilo worldwide has ventured into, FutureGram showcases the best artistic executions the brand colors can offer. The FutureGram is open at The Block atrium from April 25 to May 11.

GBP FETES SCHOLAR-GRADUATES IN MANILA TYTANA COLLEGES Global Business Power Corp. (GBP) external affairs head Sheryl de los Santos (second from left), together with Manila Tytana Colleges director for student affairs Ruel de la Rosa (second from right), presents graduation tokens to GBP scholars at the school’s senior-high commencement exercises. All of GBP’s eight scholar-graduates from the humanities and social sciences, accountancy, business and management (ABM), and science, technology, engineering and mathematics strands are recipients of academic excellence awards. Through the program, GBP supports the nation’s thrust of developing future leaders, particularly in the field of science and engineering, delivering innovative approaches to pressing social and economic challenges. Mikaela Louren Dumdum (fifth from left) gave a speech on behalf of the graduating ABM class. Education is a key corporate social responsibility of GBP, which operates 11 power generation facilities in Cebu, Iloilo, Aklan and Mindoro. In 2017 the company acquired a 50-percent stake in Mindanao-based Alsons Thermal Energy Corp.

NOVARTIS PHILIPPINES INAUGURATES NEW OFFICE

OVARTIS Healthcare Philippines inaugurated its new office with a collaborative, innovative and flexible workspace. The new Novartis Philippines office is on the fifth-floor level of the Ayala North Exchange Tower 1 in Makati City. “Our new office has no physical barriers between work stations, no separate offices, with associates free to sit wherever they like. This encourages us to work with colleagues that we don’t usually work with, and encourages us to have conversations that, perhaps, we wouldn’t have if we were separated by divisions found in conventional office designs. Our new office also enables our ‘Unboss’ culture, which empowers people to make decisions and be accountable for the decisions that they make in their day-to-day work,” said Cheryl Maley, president and managing director, Novartis Healthcare Philippines. Maley believes that the design of their new office is key factor in achieving Novartis Philippines’s goal of building a science and innovation-based nation. “The only way to survive is to continuously transform into something else. It’s this idea of continuous transformation that makes you an innovation company,” she said, quoting Ginni Rometty, the current chairman, president and chief executive officer of IBM, and the first woman to head the American computer hardware giant. “Our new office will enable Novartis and Sandoz associates to collaborate more closely while fostering innovation in our work with key stakeholders, [and] enhance access to medicines and transform Philippine health care,” saidEleanor Lopez, country head and general manager, Sandoz Philippines Corp. Philippine Council for Health Research and Development Executive Director Dr. Jaime Montoya,

who spoke on behalf of Science Secretary Fortunato T. de la Peña, congratulated Novartis Healthcare Philippines on the inauguration of its new office, noting that the inauguration theme “Building a Science and Innovation Nation” reflects the company’s commitment and support to strengthen the country’s research and development capabilities. “The DOST and Novartis have a long-standing relationship, which spans [to] the term of three secretaries: Secretary Estrella Alabastro, Secretary Mario Montejo and incumbent Secretary de la Peña. Through our collaboration on the Next Generation Scientist and the international biotechnology leadership camp, we work to achieve our shared goal of developing Filipino scientists to lead the future of our country,” Dr. Montoya said. “Novartis focuses on innovation and collaboration, which are the same values that the Department of Trade and Industry is advancing,” said Trade Undersecretary for the Competitiveness and Innovation Group Rafaelita Aldaba, who spoke on behalf of Trade Secretary Ramon Lopez. In a brief video shown at the event, Novartis Asia cluster head Alexis Serlin said that the new office of Novartis Healthcare Philippines “plays a critical role in our journey to evolve the Novartis culture that allows associates to be curious, inspired and Unbossed. It provides an ideal working space to role model these behaviors.” At the inauguration Maley formally handed over copies of the coffee-table book Building A Science And Innovation Nation to Aldaba and Montoya. The coffee-table book is a compilation of profiles and stories of Filipino delegates to the Novartis Next Generation Scientist and the international biotechnology leadership camp.

Sports

THIEM STUNS NADAL TO EARN FINAL SLOT IN BARCELONA OPEN

BusinessMirror

| Monday, April 29, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

ARCELONA, Spain—For the second week in a row, Rafael Nadal has fallen in the semifinals of a clay-court tournament he has dominated for more than a decade. Dominic Thiem defeated Nadal, 6-4, 6-4, in the Barcelona Open on Saturday, becoming the first player other than Novak Djokovic to defeat the Spaniard on clay four times. The loss for Nadal came one week after he was beaten by Fabio Fognini in Monte Carlo. Nadal was seeking to add to his 11 titles at both events. Now, the 17-time Grand Slam champion will be looking to recover his normally unstoppable form on clay before next month’s French Open, which he has also won 11 times. While Nadal called his loss at Monte Carlo “one of his worst matches on clay,” he said Saturday’s loss to Thiem was one he could learn from. “There are losses that help you, and this was one of them,” said Nadal, who had been aiming for a fourth consecutive title in Barcelona. “Considering the way I played, it has been quite a while since I felt this good on clay,” he said. “Of my last eight matches this is the first one where I have left that I am playing at the level I need to be at, to be able to play relaxed and with the

DENVER’S Nikola Jokic drives the lane against San Antonio’s LaMarcus Aldridge as Philadelphia’s Tobias Harris guards Toronto’s Kawhi Leonard. AP

NUGGETS ADVANCE AT SPURS’ EXPENSE Nikola Jokic had another triple-double, Jamal Murray hit a clutch floater with 36.8 seconds remaining and the Nuggets held off the Spurs, 90-86, in Game Seven on Saturday night to advance in the postseason for the first time in a decade.

By Pat Graham The Associated Press

ENVER—Time was winding down and the San Antonio Spurs couldn’t hear their coach screaming for someone to foul over all the noise. That’s one for the Denver crowd. The Nuggets also are making some noise. Nikola Jokic had another triple-double, Jamal Murray hit a clutch floater with 36.8 seconds remaining and the Nuggets held off the Spurs, 90-86, in Game Seven on Saturday night to advance in the postseason for the first time in a decade. “I love the grit, the resiliency, the toughness we played with tonight,” Nuggets Coach Michael Malone said. “Even late when they made their run...we never lost our composure.” In a matchup between a Denver team with the youngest playoff roster in the West and the savvy Spurs, the second-seeded Nuggets built a 17-point lead in the third quarter only to see it whittled down to two with 52 seconds remaining. Jokic finished with 21 points, 15 rebounds and 10 assists, with no pass bigger than the one to set up Murray’s floater. DeMar DeRozan had a chance to slice into the deficit but was blocked by Torrey Craig. With time running out, Spurs Coach Gregg Popovich yelled and yelled for someone to commit a foul, just to prolong the game. The roar was too loud. The Nuggets were able to essentially run out the time and begin their celebration. “After the game you’re thinking, ‘Why didn’t they foul?’” Craig said. Easy: It was just too loud. Denver went an National Basketball Association-best 34-7 at home in the regular season and rode the energy of the packed house all the way to the end. “I missed it,” LaMarcus Aldridge said of Popovich calling a foul. “That’s it.” Since making the Western Conference finals in 2009, the Nuggets have bowed out in the first round on four occasions. This was their first playoff appearance in six seasons. Denver will host third-seeded Portland in a second-round series that begins on Monday. Murray added 23 points for the Nuggets, who captured a Game Seven for the first time since May 3, 1978, when David Thompson had 37 in a win over the Milwaukee Bucks. The Nuggets never trailed on Saturday. “Anxiety is a good word,” Malone joked. Rudy Gay had 21 points for San Antonio, while DeRozan and Bryn Forbes each added 19. The Spurs fell to 3-4 in Games Sevens under Popovich. Jokic turned in another monster game. Jokic showed off his arsenal of shots, even throwing in a sky hook. He played a little more than 43 minutes—just slightly down from the 48 minutes Malone pledged to play him during pregame. “Bumps and bruises, whatever,” Jokic said. “You need to fight them in this moment.” Told his numbers for the series—162 points, 85 rebounds, 64 assists—Jokic responded: “And win,” he said. The big man also had a triple-double in Game One.

“He’s magnificent, magnificent,” Popovich said. “I’ll just leave it at that.” It was a forgettable first half for the Spurs, who trailed 47-34 after shooting 22.2 percent from the floor. The Spurs hit 10 of 19 shots in the fourth quarter. “If we had that in the first half we would have had a better chance of winning,” DeRozan said.

LEONARD EXPLODES IN GAME ONE

KAWHI LEONARD wasn’t interested in putting up a career-high point total against the Philadelphia 76ers. Even as history beckoned, Toronto’s understated star was hoping he could take a seat on the bench. Leonard scored a career playoff-high 45 points and grabbed 11 rebounds, Pascal Siakam added 29 points and the Raptors beat the 76ers, 108-95, in Game One of their Eastern Conference semifinal series on Saturday night in Toronto. Leonard’s previous postseason high was 43, with San Antonio against Memphis on April 22, 2017. He matched that by making a pair of free throws with 4:45 remaining, then topped it by draining a jump shot on Toronto’s next possession. Although he appeared focused on reaching the mark, the opposite was actually true. “I was trying to get out of the game before it got to that point,” Leonard said. “We were up 20 points with probably like five minutes left, and I was already looking at the bench, trying to get them to take me out of the game.” Leonard matched his career-best scoring total for any game, set on January 1 against Utah. He made 16 of 22 shots, going three of six from three-point range, and went 10 for 11 at the free-throw line. Raptors Coach Nick Nurse said Leonard was “fun to watch.” “A big-time performance at both ends,” Nurse said. “I just like the force he’s playing with at both ends.” Philadelphia Coach Brett Brown said Leonard is “leaps and bounds” ahead of the player he once coached as an assistant with San Antonio. “The variety of ways that he scored and could get his shot off on some pretty good defensive players and big athletes was incredibly impressive,” Brown said. Leonard received a standing ovation when he checked out with 3:14 to play and the Raptors up 107-88. He’s just the second player in Raptors history to eclipse 40 points in a playoff game. The other was Vnce Carter, who scored 50 against Philadelphia in Game Three of the second round on May 11, 2001. “Kawhi was just in the zone,” Toronto’s Kyle Lowry said. “He probably could’ve had more, but he facilitated some and made some shots.” Philadelphia’s JJ Redick called Leonard “a spectacular player.” “He’s as good as there is in the NBA at generating his own shot, and then making tough shots,” Redick said. “Clearly we need to figure out what we’re doing with him and Siakam.” Lowry had nine points and eight assists as the Raptors led by as many as 20 en route to their fifth straight postseason victory, extending a franchise record.

Toronto won its 14th consecutive home meeting with Philadelphia and improved to 22-3 against the 76ers since the start of the 2013-2014 season. No other opponent has beaten Philadelphia more often over the past five seasons. Tobias Harris had 14 points and 15 rebounds, and Redick scored 17 points for the 76ers, whose four-game playoff winning streak was snapped. “We’re not going home, we’re not going away,” Brown said. “We will dig in and come back better in Game Two.” Joel Embiid scored 16 points and Ben Simmons had 14. Jimmy Butler scored 10 points and shot four for 12. Embiid missed nine of his 13 shots in the first half. He finished five for 18. Toronto improved to 3-14 in the first game of a playoff series, winning an opener for the first time since a first-round victory against Washington on April 14, 2018. The only other time Toronto won a playoff series opener was 2001, when Carter’s Raptors won Game One of the second round at Philadelphia. Toronto lost that series in seven games. On Saturday, hot starts from Leonard and Siakam put Toronto in control early, and Lowry fuelled a pivotal 10-0 run in the third quarter that kept the Raptors comfortable. Toronto’s first bench points came on Serge Ibaka’s jump shot with 1:57 left in the third, a basket that put Toronto up 89-70. The Raptors finished with 10 bench points, seven from Ibaka and three from Fred VanVleet. Leonard and Siakam both shot seven of nine and scored 17 points as Toronto jumped out to a 14-point lead in the first quarter. Down 7-2 early, the Raptors immediately reclaimed the lead with a 9-0 run and went almost eight minutes without missing a shot, hitting on 13 straight from the field. Toronto was up 39-31 after one.

necessary energy. “Thiem played a great match and I was in it. I was competitive, and I think that from here on I will be even better.” Thiem will try to win his second title of the year on Sunday in a final against Daniil Medvedev, who upset fourth-seeded Kei Nishikori, 6-4, 3-6, 7-5. The fifth-ranked Thiem won his first title of the season by defeating Roger Federer in the Indian Wells final in March. This will be his first final on clay since last year’s French Open, where he lost to Nadal. Thiem lost the Barcelona final to Nadal two years ago, but the Austrian has beaten Nadal on clay in each of the last three seasons. Only two other players have beaten Nadal on clay three times—Fognini and Gaston Gaudio. The second-ranked Nadal had never lost in the semifinals or finals in Barcelona. He had won 18 straight here going back to a third-round defeat to Fognini in 2015. Thiem has yet to lose a set this week, and he was in control early on against Nadal, putting pressure on the Spaniard’s serve from the start. He broke Nadal in the fifth game of the first set and had four break opportunities immediately after that before Nadal recovered to hold. The one break ended up being enough for Thiem in the first set, and he moved ahead of the Spaniard again at 2-2 in the second set. He was down 0-40 while serving for the match, but came back to close out the victory at the Rafa Nadal main court. “I’m always super proud if I beat him because he’s the best player ever on this surface,” Thiem said. “We always had great matches in the past, and also today’s was very good. I was more lucky today.” Nishikori, the winner in Barcelona in 2014 and 2015, was broken twice in the final set against Medvedev, including in the final game of the match. It was a tour-best 25th win this year for the 14th-ranked Medvedev, who was coming off a semifinal appearance in Monte Carlo. It will be his first-ever clay-court final. “I’m really happy that I managed to hold my nerves, to try to come back, and I managed to come back,” Medvedev said. “I’m just happy to be in the final.” AP

WHILE Rafael Nadal calls his loss at Monte Carlo “one of his worst matches on clay,” he says Saturday’s loss to Dominic Thiem is one he could learn from. AP

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GABUCO PROVES METTLE J OSIE GABUCO proved detractors wrong by winning the women’s light-flyweight gold medal at the Asian Boxing Championships which culminated over the weekend at the Indoor Stadium of the Hua Mark Sports Complex Bangkok, Thailand. Gabuco, a 32-year-old mother and member of the national boxing team for 15 years, was thought to have been past her prime but in her fights in Bangkok—including the finals she won against Kim Hyang Mi of North Korea— she flashed her usual speed and guile to prove doubters wrong. Coaching consultant Don Abnett of Australia was all praises for Gabuco from the start of training for the tournament. “She’s a talented girl with a lot of heart and has the ability to confuse the enemy. In the final match, she made the North Korean lass miss so many punches and delivered her own ones and twos to seal the deal,” Abnett said. Abnett also credited the local coaches led by women’s Head Coach Nolito Velasco and assistant Mitchel Martinez for preparing Gabuco well. “They did a fantastic job”, Abnett said. Ian Clark Bautista, who recently moved up to bantamweight, clinched a bronze medal after

ORA MICAH AMOGIUS and John Lloyd Cabalo became double winners late Saturday night as the Philippines bagged 10 gold medals in Day One of the 2019 Arafura Games in Darwin, Australia. Amogius captured gold medals in the 13-14 100-meter backstroke and the 200-m individual medley in swimming, while Cabalo topped the men’s 400-m run and the men’s 4x100-m relay in athletics to emerge as the first two double gold medalists in the Philippine campaign supported by the Philippine Sports Commission and Standard Insurance. The 13-year-old Amogius clocked one

losing a close split decision early last week in his semifinal match against Mrazuzbek Mirzahalilov of Uzbekistan. Alliance of Boxing Associations of the Philippines (Abap) President Ricky Vargas, also president of the Philippine Olympic Committee (POC), was all praises for Gabuco’s victory. “She really deserves this win. She worked hard, focused and believed. She did it all. I’m so happy for her. Mabuhay ka, Josie!” Vargas said. Abap Secretary-General and POC Communications Director Ed Picson, meanwhile, was elected to the Asian Boxing Confederation (ASBC) Executive Committee with 36 voting countries in attendance. IASBC President Anas Al-Otaiba of UAE nominated Picson to be the official spokesman of the association and was unanimously approved by the federation board. Picson’s wife Karina was a deputy to Technical Delegate Pat Fiacco of Canada in the championships. Three-star International referee-judge Roger Fortaleza completes the Philippine delegation.

Plot thickens in Aiba row

JOSIE GABUCO wins gold at the Asian Boxing Championships in Bangkok.

AMOGIUS, CABALO SPARKLE IN ARAFURA minute and 10.53 seconds in the 100m backstroke, about two seconds ahead of second placer Taila Jane Wilkinson of Western Australia (1:12.19). The Davao City lass also ruled 200-m individual medley (IM) with a time of 2:33.63, three seconds adrift of Wilkinson in the event held at the Parap Swimming Pool. Over at the Marrara Sporting Complex, the 18-year-old Cabalo also won in

KAZAKHSTAN boxing official Bekzhan Bektenov faces disciplinary sanctions.

dominating fashion in the 400-m run, crossing the finish line at 50.73 seconds, two seconds ahead of Blair Andrews of Northern Territory (52.08) and Joseph Salmon of Northern Territory (52.34). The National University standout teamed up with Joviane Calixto, Jason Buenacosa and Romel Bautista to win the 4x100-m relay with a time of 43.49 seconds, beating entries from Northern Territory and Malaysia.

The Philippines won six more golds to go along with 12 silvers, and six bronzes in an eventful first day for the country in the multisports competition which is making a return after an eight-year hiatus. Also winning the gold on Saturday were Ivo Nikolai Enot (13-14 men’s 100-m backstroke) in swimming, and Abigail Manzano (women’s 3,000-m steeplechase), Nicko Caparoso (men’s 3,000-m steeplechase), Bruce Fernia (men’s javelin throw), Jessel Lumapas (women’s 400m run) and Mark Anthony Casena (men’s triple

AZAKHSTAN Boxing Federation (KBF) Executive Director Bekzhan Bektenov hit back at the International Boxing Association (Aiba) after the world governing body recommended that he be provisionally suspended for an alleged disciplinary breach. The Aiba Compliance Commission announced earlier this week that it had proposed Bektenov be sanctioned because of his link to a “rogue group of Kazakhstani individuals” who offered to help manage the qualification process and run the Olympic boxing tournament at Tokyo 2020 without Aiba. The Commission recommended Bektenov be “provisionally suspended as an Aiba member due to his ongoing attempts to meet with National Federations in violation of the disciplinary code.” It came after the Commission was presented with evidence regarding his alleged attempt to “solicit National Federations to form a new organization to manage the Olympic trials” as the International Olympic Committee (IOC) inquiry into Aiba continues.

In response, Bektenov has accused Aiba of going against the principles of democracy and claimed it was “legally impossible” for him to be suspended from the worldwide organization as he is not a member and only serves as executive director of the KBF. In a statement, he claimed that he had not received any notification, warnings or questions from Aiba regarding his possible suspension. “I held meetings and consultations with my colleagues in other national federations but this is part of my work as director of the KBF,” Bektenov said. “Such meetings, correspondence and exchanging of opinions on various issues occur constantly and do not contradict the charter of the organization. “If Aiba intends to monitor every meeting and every phone call, then this is contrary to the principles of democracy. “In this case, National Federations are not required at all—one headquarters can manage the whole process.” Insidethegames

jump) in athletics. Amogius, who also captured the silver in the 200-m freestyle medley on Saturday, shattered her personal marks in winning the two golds. “I’m really happy and I broke all my times. I’m very, very happy and honored to swim for the Philippines because it’s my country and I’m proud to be a Filipino,” said Amogius, a Batang Pinoy standout who also won one gold and one silver last year in the BIMPEAGA Friendship Games. Cabalo, a Puerto Princesa native, is eyeing

for more gold medals as he is also entered in the 4x400-m, 800-m and 1,500-m run. “It’s my goal to win gold here in Australia because the field is strong. Just look at how big my Australian foe was—I stand just as his chest,” Cabalo said. Action continues on Monday for Filipino athletes with the final day of the athletics and swimming competitions, and muay. Kate Diaz, meanwhile, won the Philippines’s first medal—silver—in women’s weightlifting on Saturday at the Darwin Convention Centre.

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Echon, Daarol eye top finish in Liloy

ATENEO’S Vanessa Gandler challenges the defense put up by University of the East. NONIE REYES

ANE ECHON and Russel Daarol set out as the top favorites, but both face tough tests in the premier side of the Palawan PawnshopPalawan Express Pera Padala (PPS-PEPP) Liloy national age-group tennis circuit, which got going on Sunday at the Liloy Tennis Club in Zamboanga del Norte. Echon seeks to hurdle her first two matches with ease to build some kind of momentum in an expected clash with Faith Regencia in the 18-under division with the latter bracing for a final clash with Angel Repaja in the 16-under category of the Group 2 tournament presented by Dunlop. Daarol, on the other hand, shoots for a “double” on the boys’ side of the weeklong event serving as the second of a series of tournaments making up the Mindanao swing of a busy summer circuit, the longrunning talent-search put up by the PPS-PEPP headed by President and CEO Bobby Castro. But like Echon, Daarol will be hard-pressed to come out on top given the depth of the competing field with RJ Cagatan, Penshoppe Erquita and Aidree Pan out to stop in 16- and 18-under plays of the tournament sanctioned by the Unified Tennis Philippines made up of PPS-PEPP, Cebuana Lhuillier, Wilson, Toby’s, Dunlop, Slazenger and B-MEG. Keen competition is also seen in the lower agegroup brackets with Pete Bandala and Rose Mesiona headlining the 10-under division, Eri Domiguez and Mesiona along with Bandala and Andrei Tan in the 12-U group; and Jalia Elumba and Yvonne Cuevas along with Cagatan, Erquita, Marc Fernandez and Andrei Omos in the 14-under sections.

Ateneo vs De La Salle golfers at Forest Hills

TENEO goes for a record “four-peat “as it clashes with rival De La Salle in the annual Classic Cup golf tournament slated on Monday at the Forest Hills Golf Club in Antipolo City. The Blue Eagles won the last three stages, including a close battle—only 10 points separated them from the Green Archers—last year at the Orchard. The road to victory this year, though, would be tough for either school as Forest Hills’s Nicklaus and Palmer courses are difficult and demanding even to the best pros and amateurs. “I believe there will be excitement as no one holds an advantage at Forest Hills,” said club General Manager Raymond Bunquin, who will be one of the spearheads for De La Salle. Ateneo is expected to rely on its top guns especially middle- to senior-level age groups, where it got the most points in 2018. “Hopefully, we can also tap contenders among our younger golfers. What we want is to create a balanced team,” Lovell Gopez, head of the Ateneo Golf Foundation, said. To spice up the affair, there will be hole-in-one prizes courtesy of GAC (car), Emirates (airline ticket), Casino Filipino (betting chips), Miura (golf set) and Silicon Computers (GPS Tracker).

RICK OLIVARES bleachersbrew@gmail.com

BLEACHERS’ BREW

Preseason Cup tips off Sunday

TENEO secured the top seed in the Final Four after disposing of University of the East (UE), 25-20, 27-25, 25-11, in the University Athletics Association of the Philippines Season 81 women’s volleyball tournament on Sunday at the Filoil Flying V Centre in San Juan City. But the Lady Eagles had to endure a tough challenge from the Lady Warriors in the first two sets before breaking loose in the third set to finish the eliminations on top with 12 wins against two losses. The victory sealed a twice-to-beat advantage for Ateneo, which will head to its third consecutive semifinals showdown against fourth seed Far Eastern University. Kat Tolentino led the Lady Eagles with 11 points built on eight attacks, two blocks and an ace. “This is the start of the Final Four. We

By Ramon Rafael Bonilla

AVAO CITY—A festive atmosphere ushered in the 2019 Palarong Pambansa with no less than the city’s very own President Duterte opening the games on Sunday.

Australian, Kiwi conquer 5150 triathlon in Cebu

are finally here,” Ateneo Head Coach Oliver Almadro said. “Before looking at our chance to be in the Finals, we should focus first on the semis. We will really pray hard and work hard to reach the championship series.” UE started well in the first two sets before Ateneo crawled back and eventually imposed its edge in experience. In the second set, the Lady Warriors

looked to equalize with a 24-21 lead. But a string of errors forced deuce in favor of Ateneo. Bea de Leon and Maddie Madayag then pulled the Lady Eagles out of danger with a block and an ace. It was all Ateneo in the third set with the Katipunan-based squad piling up the cushion to a high of 13, 19-6, and comfortably wrap up the match.

Madayag had 10 points, while Julian Samonte and de Leon added eight points apiece for the Lady Eagles. Mean Mendrez topscored with 12 points on 11 spikes for UE, while Judith Abil contributed 11 points. The Lady Warriors ended the season in seventh place with a 3-11 record. Ramon Rafael Bonilla

PALARO UNFURLS IN DAVAO CITY

THE tournament committee members strike a pose at Forest Hills. They are (from left) Luigi Avancena, Jun Dalandan, Jun Arceo, Eric Tensuan, Raffy Garcia, Jing Paraiso, Lito Tanjuatco and Raymond Bunquin.

USTRALIAN Sam Betten repulsed Alex Polizzi while Amelia Watkinson from New Zealand stamped her class in women’s side as they ruled their respective divisions in the inaugural Sun Life 5150 triathlon in Naga City, Cebu, on Sunday. Better who has ruled a number 5150 races in the country before yielding to compatriot Mitch Robins in Subic last year, pulled away from a tight battle with Polizzi after the opening swim leg, leaning on a strong bike ride to post a one-hour, 59-minutes and 32-second clocking in the 1.5km swim, 40-km bike and 10-km run race put up by Sun Life and organized by Sunrise Events Inc. Polizzi clocked 2:03.55 for second, while Robins struggled in the bike part and wound up third in 2:05.34 with Dan Brown finishing fourth in 2:27.21 in the men’s pro division of the event also held to promote a healthy lifestyle among the Filipinos. Watkinson, meanwhile, put on a strong

ATENEO BELLES NO. 1 IN FINAL 4

showing that saw her run at third overall behind Betten and Polizzi after the bike ride. She went on to submit a 2:06.44 clocking, way ahead of Hungary’s Anna Eberhardt (2:14.51), while recent 5150 Subic winner Manami Iijima of Guam lost steam in the last two stages after a lead-grabbing stint in the swim leg. She wound up with 2:16.16. Sharing the spotlight were Gian Taylor, who topped the Go For Gold (Sunrise Sprint, who edged Renzo Pahaganas and Jericho Auguis in the 12-17 age category. Other winners were: male 18-24, Denver Dayonot and King Charles Espanol; male 25-29, Dandy Maturan; male 30-34, Dennis Rey Rentillosa and Sherwin Dichos; male 35-39, Jayran Manlangit, Pimco Pimentel and Dickson Yu; male 40-44, Julius Hibrada, Roldan Calda and Hendry Fritz Co; and male 45-49, Romulo Rosell and Alan Choachuy.

Duterte, the former mayor of the host city, welcomed some 20,000 participants that gathered here for the annual multisport competition for elementary and secondary student-athletes organized by the Department of Education and supported by the Philippine Sports Commission. Security was tight at the University of the Philippines-Mindanao—the venue of the opening ceremony and football, swimming, volleyball and swimming. A downside for the hosts were the still-to-be-paved roads leading to the main competition venue and the bleachers area of the complex that has yet to be completed. But these were drowned by the festive atmosphere that enveloped the city starting with the customary parade of delegates and energetic dance routines in the colorful ceremont.

President Duterte, in his message to open the games, encouraged the athletes to use their participation in Palarong Pambansa as a platform to bring themselves to higher heights. “This national sporting event has truly become a platform for cultivating camaraderie, discipline and excellence, especially among the Filipino youth,” he said. “Its competitive events have also strengthened their character and determination to succeed in their chosen sports as well as in their academic endeavors.” Marching briskly were the defending champions and 14-time titlists National Capital Region, which is again expected to face stiff opposition from traditional rivals Calabarzon and Western Visayas. The athletes from the Big City won

100 gold, 70 silver and 50 bronze medals to dominate last year’s Palaro in Ilocos Sur. Calabarzon was was a far second with a 55gold, 50-silver, 73-bronze haul, followed by Western Visayas with 46-45-55. A total of 1,294 medals in 19 sports are at stake in 26 playing venues in the Davao Palaro. Up for grabs on the first day of action on Monday is the 3000-m steeplechase secondary girls gold medal, long jump for elementary and secondary boys and discus throw for elementary and secondary girls. Pushing through in the afternoon hostilities at the University of Mindanao Matina Campus are the 400-m hurdles and 100-m centerpiece events for all levels. Also on tap are women’s artistic gymnastics at the University of Immaculate Concepcion.

THE 13th staging of the country’s premier collegiate preseason basketball tournament, the Filoil Flying V Preseason Cup, tips off on May 5, at the Filoil Flying V Centre in San Juan, with a banner cast. Slated for a loaded triple header on opening day are defending National Collegiate Athletic Association (NCAA) champions San Beda against a stacked and loaded University of the Philippines team, while rebuilding De La Salle University takes on former Coach Aldin Ayo’s sophomore University of Santo Tomas squad. The league will also unveil its grassroots program by introducing an 11-Under division that will open the day’s triple header at 11 a.m. that features De La Salle Zobel against Xavier School. A total of 16 collegiate squads from the NCAA and University Athletic Association of the Philippines will participate in the summer tournament. Begging off from participation are both defending Filoil Flying V Preseason Cup and UAAP champions Ateneo de Manila University and University of the East. Ateneo cites its upcoming William Jones Cup campaign and training out of the country as a reason for begging off while UE also will also be abroad, as well. The Juniors Divisions features 12 teams, while the 11-Under Division lists 10 squads competing. Tournament Director Joey Guillermo also announced an All-Star Game featuring NCAA players on one team and UAAP players on the other. “We will engage the college basketball fans to determine the first five of either squad via social media,” Guillermo explained. “The rest of the team will be decided by the respective coaches, who will also ensure that each participating team will be represented.” The summer offering will also see the return of the Hanes 1-on-1 tournament. College of Saint Benilde’s Prince Carlos won the inaugural edition of the competition. “Every year, there is much anticipation for the Filoil Flying V Preseason Cup because this is the tournament where teams can only field their actual lineups for the upcoming NCAA and UAAP seasons,” pointed out overall tournament commissioner Edmundo “Ato” Badolato. “There are new rookies, players who switch teams, newly appointed coaches, and this year, this is last we will see of foreign players in the NCAA. Maybe for some, it will be emotional.” Selected matches of the 13th Filoil Flying V Preseason Cup will be televised over ESPN5. Tickets to the matches can be purchased at the gate of the Filoil Flying V Centre or through Ticketnet at 911-5555.

THE COUNTRY CLUB CHAMP

Korean Kim Joo-hyung (right) receives the huge The Country Club (TCC) Invitational trophy and the facsimile of a check worth P1.5 million from TCC President Jose Eduardo Alarilla after ruling the TCC Invitational recently, becoming the youngest winner at 16 of the annual event also known as the Don Pocholo Razon Memorial Cup.

Kim, Malixi share match play honors

OUTH KOREA’S Kim Tae-soo needed an extra hole in their marathon 36-hole duel to nip Leandro Bagtas and claim the boys’ crown while young Rianne Malixi halted erstwhile unbeaten Laurea Duque to clinch the girls’ diadem in the Philippine Amateur Open Match Play Championships crown at the Luisita Golf and Country Club in Tarlac over the weekend. Kim pulled through with a par on their third trip on the par-four No. 1 in another sweltering day after an up-and-down windup in regulation that saw Bagtas forcing an all-square match on the 34th after trailing the morning duel by one hole. Kim went 1-up again by winning No. 17, their 35th hole, but bogeyed the last, which Bagtas parred to extend the match. Bagtas, however, failed to match his rival’s par on the 37th. It was a big victory for Kim, who ended up at 13th after the 36-hole stroke play elims and

HK, Chinese bets triumph in Subic

worked his way into contention by nipping Perry Bucay in 19 holes, edging Paolo Wong, 1-up, and shocking top seed and last year’s winner Carl Corpus, 2&1, in the semis. The third-seeded Bagtas romped off with a 5&3 victory over Josh Ramos, outlasted Jacob Rolida on the first extra holes in the quarters then wore down No. 2 Sean Ramos, 1-up, in the Last 4 to earn a crack at the crown in the event sponsored by the MVP Sports Foundation and serving as part of the PLDT Group National Amateur Tour. Though he trailed Kim after 18 holes of the grueling finale, Bagtas kept pressing his bid and looked headed for an explosive finish after wresting control on the 33rd hole. Corpus subdued Ramos, 3&2, to settle for third in the event organized and conducted by the National Golf Association of the Philippines and backed by Cignal and Metro Pacific.

ONG KONG and China bets accustomed to the hot weather ruled the 26th NTT Asian Triathlon Confederation Subic Bay International Triathlon (SuBIT) Asian Cup on Sunday at the Subic Bay Freeport Zone. Hong Kong’s Oscar Coggins, now campaigning in men’s elite from the junior ranks, was unfazed by the hot conditions and won the gold medal in one hour, 49 minutes and 20 seconds. Reigning Asian Games champion and top seed

Jumpei Furuya of Japan was a close second in 1:49.30, while another Japanese, Takumi Hojo, placed third in 1:49.45. Rounding out the top men’s elite top 5 were Japan’s Shiruba Taniguchi (1:50.11) and Yuichi Hosoda (1:50.36). “I like the hot weather, I have been training in Australia the past two months, but I really did not ease up until the finish line. I am happy with my time,” said Coggins, who took the lead at the 6-km mark of the run leg and steadily pulled away from the field.

Cebu’s Andrew Remolino, only 19, upstaged his older and more experienced national teammates with his 17th-place finish in 1:54.49, his first sub two-hour race. “My goal was to finish in the top 10, but the field was just too tough,” said Remolino who trains under his father-coach Andoy Remolino. China’s Mengying Zhong, meanwhile, retained the women’s crown by finishing solo in 2:04.17. Japan’s Yurie Kato negotiated the 1.4-km swim/40-km bike/10-km run race in 2:05.32 to finish second place.

By Anita Snow The Associated Press

HOENIX—Antonio Velasquez smiled proudly at the wiry teenagers shouting in Spanish and the Mayan language Mam as they kicked a soccer ball under an evening desert sky turning to orange. The Pentecostal pastor was a teenager in 1990, fleeing Guatemala’s civil war when smugglers randomly dropped him and other teens near Phoenix, where he initially worked in agriculture and lived in a trailer with others from the western highlands. Nearly three decades later, Velasquez is an influential leader in Phoenix’s migrant community through the selfsupporting soccer organization he founded, Maya Chapin. Bringing together 108 teams with 10,000 players mostly from Guatemala, the group aims to keep young migrants away from drugs and gangs while providing the guidance Velasquez lacked as a new arrival. Guatemalans now surpass Mexicans as the top nationality for migrants apprehended at the southwest US border. According to US Border Patrol statistics, 90,477 Guatemalans traveling in families were apprehended at the border in the six-month period ending March 31, compared with 72,728 people traveling in families from Honduras, 17,396 from El Salvador and 1,573 from Mexico. “Like us, a lot of people are leaving now because of a lack of opportunities, the extreme poverty, the insecurity,” Velasquez said, inflating a soccer ball with a portable pump. “These young people are just looking for a better life.” In Arizona, most of the Guatemalan families now being released continue on to relatives in California, New York and elsewhere. But Velasquez said many with family around Phoenix have shown up at the soccer fields, with 150 new arrivals ages 15 to 18 joining Maya Chapin’s ranks in the first quarter of 2019. Velasquez said Maya Chapin also helped place 18 migrant families without US relatives into the homes of Phoenix-area Guatemalans from the same towns while they await court hearings on their cases. Many players at a recent practice were from Ixchiguan, where violence has erupted over opium crops linked to Mexican drug cartels. They all told of extreme poverty and brutality in a small nation known for coffee, volcanoes and an internal conflict that lasted 36 years. Maya Chapin is similar to soccer groups Mexican migrants have formed in California and other states for decades. In Orange County, boys 17 and younger play for Monarcas Santa Ana, named for a professional team in Michoacan state. In Oakland, migrant youth seek solace in Futbolistas 4 Life, a soccer program recently highlighted in a documentary following two migrant teens in the US under the Deferred Action for Childhood Arrivals program, or DACA. As Guatemalans and other Central Americans flood to the US-Mexico border, those who study migrants here say groups like Maya Chapin and Futbolistas 4 Life provide support and solidarity for young people arriving in the United States alone or with families. “Such associations have long been an organizing principle for a lot of these migrant communities,” said Kathleen Newland, a cofounder of the Migration Policy Institute in Washington who has long studied diaspora communities in the US. “They keep kids out of trouble and give them a constructive activity that provides a sense of identity.” As is common in Guatemalan indigenous communities ravaged by alcoholism, Pedro Chilel, 21, was abandoned by his parents before traveling to the US alone at 17. He now lives in Phoenix, where he has permanent US residency, a landscaping job and a sense of community he lacked in his

MAGIC OF SOCCER Sports

PLAYERS pack up after a Maya Chapin game in Phoenix. AP

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| Monday, April 29, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

village of Mirador. “It’s really fun to play,” Chilel said at a recent soccer practice. “I have two much older brothers here, but Maya Chapin is part of my family now.” The bulge of an electronic ankle monitor—worn in some cases by people awaiting immigration hearings—was visible under a sock worn by player Adelfo Guillermo Martin Perez, who arrived here four months ago with his four-yearold daughter. His wife followed with their one-year-old last month. “I’m trying to get permission to work,” said the 24-yearold, whose two brothers have lived in Phoenix for years. Velasquez said all Maya Chapin’s players have gone through US immigration processing and include DACA program participants, people with or seeking asylum and US citizens born on American soil. Players must be at least 15, but some are in their late 20s and older. The pastor himself was granted a highly publicized reprieve from deportation two years ago, but he would

not discuss his current immigration status. ICE Spokesman Yasmeen Pitts O’Keefe said she also could not comment. A married 47-year-old father of three US-born children, Velasquez is well-known among some 15,000 Guatemalanborn people living in greater Phoenix and has deep ties to the broader community. He attends a regular Spanishlanguage City Hall prayer group and is a Mam interpreter for police. Last year, he delivered a memorial wreath to the state Capitol for Sen. John McCain, whom he credited with bringing a Guatemalan consulate to Phoenix. “Antonio really is a servant-leader,” said City Councilman Michael Nowakowski. “He wants to help people and wants nothing in return.” Nowakowski met the pastor more than a

decade ago, before Velasquez learned how to reserve city soccer fields. After reservation holders repeatedly kicked his players off the fields, Velasquez established a standing reservation for weekly practices and games. Velasquez said the players’ families buy their matching soccer jerseys and share the $7,000 cost of using the fields and lighting each season. When players cannot afford uniforms, other families pitch in.

“It’s incredible when you go out there and see anywhere from 200 to 800 people playing,” Nowakowski said. While many praise Velasquez, he butts heads with others. He once launched a boycott against a Guatemalan chicken restaurant he said ignored the community, and he has irritated other migrant groups by refusing to join protests outside ICE offices. Velasquez says the demonstrations are counterproductive. “In Guatemala, we have a saying: ‘People understand each other by talking,’” the pastor said. “Sometimes dialogue is better.”

Messi powers Barcelona to Spanish league crown

LIONEL MESSI (right photo) jumps for the ball with Levante’s Ruben Vezo and later joins his Barcelona teammates and their children in posing with their Spanish League trophy. AP

OME—The Italian athletics federation opened an investigation on Saturday after Trieste Half Marathon organizers restricted the participation of African athletes in the May 5 race. Organizers denied accusations of racism, with race manager Fabio Carini claiming they wanted to stop the exploitation of African runners. “In reference to news in the press and to the ensuing controversy about the Trieste Half Marathon, the Italian athletics federation communicates that its federal court has immediately opened an investigation aimed at ascertaining the facts and possible violations of the rules and regulations committed by clubs affiliated to Fidal or by its members,” the Italian athletics federation said in a statement. Carini announced the restriction on Friday, but he and local officials said African runners can still directly sign up for the race. “This year we have decided only to hire European athletes until measures are taken to regulate the trade in high-value African athletes, who are simply exploited,” Carini said. “This is something we cannot accept anymore. “Many organizers endure pressure from managers who exploit athletes and offer them at very low costs: Which is a detriment to their dignity and damages Italian and European athletes, who are not hired because they cost more.” Isabella de Monte, a member of the European Parliament with the Democratic Party, said the only way to

react was “outrage.” In Des Moines, Iowa, Keni Harrison cruised to her fourth straight win in the 100-meter hurdles on Saturday at the Drake Relays, joining Lolo Jones as the only women in meet history to do so. Harrison crossed in a wind-aided 12.65 seconds on a miserable day at Drake Stadium, where temperatures plunged into the high 30s with a steady rain and a wind chill that made it feel below freezing at times. Jasmine Camacho-Quinn, Harrison’s training partner, was second at 12.85. Canadian Phylicia George was third at 12.96. The weather wasn’t the only challenge faced, as a pair of false starts threatened to sap the hurdlers of their momentum. But it didn’t hamper Harrison, the world record-holder at 12.20. “I just had to refocus,” Harrison said of the restarts. “I didn’t feel my best, but sometimes you have to go out and just get the job done.” The men’s 110 hurdles produced a mild upset, as Kentucky junior Daniel Roberts held off 2016 Olympic champion Omar McLeod by one one-hundredth of a second for the win in a wind-aided race. Roberts won in 13.28 to become the first college athlete to win the event since it was added to Drake’s schedule in 2002. “I knew he was going to be there. I know he’s very fast. So I had to just get out, focus on my lane,” said Roberts of McLeod. “I tell myself all the time that I’m the best hurdler in the world because that’s where I want to be one day.” AP

ARCELONA, Spain—Lionel Messi conjured the perfect finish to a dominant title march by Barcelona on Saturday, when he came off the bench and scored the goal that clinched the Spanish league crown. After resting until halftime, Messi went on and finally put a shot past Levante goalkeeper Aitor Fernandez in the 62nd minute to start the celebrations at the Camp Nou. Barcelona won 1-0 with Messi’s league-leading 34th goal, his 46th in all competitions this season. After hugging and kissing his children who came on the pitch with the other players’ families, Messi received the league trophy from Spanish football federation President Luis Rubiales and

pumped it in the air. Barcelona won its second straight league title since Ernesto Valverde took over at the start of last season. The title was the club’s eighth in 11 seasons. Overall, Barcelona has 26 league titles, second only to Real Madrid’s 33. “[Messi] scores goals against everyone and he has given us the title,” Valverde said about his star. “To win the title by a good margin, given how difficult it is, and to have done it back-to-back, we are just happy to give our fans something to be happy about. It is a source of pride for us.” Barcelona’s win put it nine points ahead of second-placed Atletico Madrid with three rounds to play. Barcelona holds the tiebreaker with Atletico on head-to-head goals. Atletico beat Valladolid 1-0 earlier, forcing Barcelona to need a victory to wrap up the title this weekend before it turns its attention to its upcoming European clash with Liverpool. With the league recaptured, Barcelona can focus on completing a rare treble. In the Champions League, it hosts Liverpool on Wednesday in the semifinals, and in the Copa del Rey, it faces Valencia in the final on May 25. “This club was important before, but this generation of players has made it one-of-a-kind, for the titles we have won and the way we have won them,” Barcelona midfielder Sergio Busquets said. “And we want to keep this going. We are fortunate enough to be in two more competitions and we hope that we can celebrate more this season.” Messi started his second match in a row on Barcelona’s bench, sitting for the first 45 minutes to get some extra rest for Liverpool. The closest Barcelona came to scoring against the

Investigation begins after Italy race limits African runners entry

KENDELL WILLIAMS lands in the pit during the women’s special long jump at the Drake Relays in Des Moines, Iowa. AP

relegationthreatened Levante without Messi was Philippe Coutinho’s free kick that hit the crossbar. Messi replaced Coutinho at halftime and was there to finish off a long team buildup that culminated when Arturo Vidal knocked a ball to Messi, who shifted the ball to his left foot to open an angle around a defender and poke a shot past Fernandez. Jose Morales had a chance to level for Levante after Ivan Rakitic failed to control a high ball, only to fire high. Enis Bardhi also hit the upright late as Levante kept the result in suspense until the final whistle. But the night ended with Messi and his teammates locking arms and bouncing in a circle at midfield while more than 90,000 fans cheered around them. AP

God of all praise

EAR God, You love us unconditionally. Awed by Your justice we pray: Make us true disciples of God. Let Your Church be a sign of Your boundless love and infinite mercy. Help us rejoice in the beauty and goodness Your Spirit animates in Your Church. Inspirit us to comfort the sick, visit the homebound and seek out the least, the lost and the risk. Lead us to exercise good servant leadership among people within our reach. May the praise of God be always on our lips and in our hearts, through Christ, the justice of God. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

BAMBA LIMON

Life

AND THEN SOME: FINALLY, A SHADE RANGE THAT DOESN’T NEGLECT ‘MORENAS’ D4

BusinessMirror

BESSIE BESANA

CHERRY VERIC

PHILIPP TAMPUS

Monday, April 29, 2019

PROTACIO EMPACES

PMFF X: 10 excellent pieces TOTA PULCHRA MISS CHARLIZE

@misscharlize

HE Panasonic Manila Fashion Festival (PMFF) is currently the biggest series of fashion-related events in the country. It celebrated a milestone 10th season with the theme “Fashion Formation Decoded,” making an ambitious bid to be on a par with the fashion weeks in the biggest cities in the world. There were more than 40 local and international designers and brands that were showcased at the Marquee Tent at Edsa Shangri-La Hotel earlier this April. Here are the 10 creations I deem as must-haves for Holiday 2019, as described by their respective designers. PROTACIO EMPACES: For my “Cloudy Night Skies” collection, the story is about the changing hues of a cloudy evening sky that slowly transcend from dark

grays and milky whites to shades of blushing clouds against the break-of-dawn skies. In the photo is my break-of-dawn number. Blushing clouds against gray skies signaling the coming of sunrise. This is perfect for cocktail parties. PHILIP RODRIGUEZ: “Le Jardin” is inspired by a trip to the lavender fields of Provence, France. My piece is all made of tulle ideal for a garden or spring-themed reception or graduation ball. It’s very light, delicate, sweet and fragrant. The layers are electric-pleated and the bodice is hand-fluted. PHILIPP TAMPUS: My collection is called “Vivace,” vibrant and luxurious, not just in color but also in fabric manipulation and texture. My piece is made of crimson red French scallop lace. Draping is my strength and I always celebrate a woman’s shape with a lot of soft boning on the torso. This gown can be worn by a modern woman to a red-carpet event or a gala night. JUN ESCARIO: The collection started with one of Karl Lagerfeld’s quotes about the white shirt and it evolved from there: “If you ask me what I’d most like to have invented in fashion, I’d say the white shirt. For me, the shirt is the basis of everything. Everything else comes after.” My piece is a silk dress shirt paired with men’s cotton wool straight-cut pants with a separate sculptural organdy top and chiffon side tail. JAZ CEREZO: I had an obsession with bows and

ruffles while developing this collection, and I can’t think of a better title than “Return to Innocence.” My piece is a black off-shoulder gown in crepe with ruffle details along the neckline and sleeves that give a bit of a vintage-couture vibe. The skirt is column cut with a thigh-high slit. I’m imagining this being worn by a woman with a very strong character attending a black-tie event. DARYL MAAT: My collection is called “Euphoria.” “Disco Fever” is a song by VST & Co that influenced this collection. It’s an upbeat song comparing dancing to love. Like the collection, it’s fun, it has texture, a lot of metallics, sequins, vinyl and suede. The blue suit set is in blue/gold reversible sequins. I wanted this to be androgynous but kept it a little bit feminine with the bra-let. The cuts of the design were meant to be elongated, like the pants’ length, suit length and the lapel. The Daryl Maat woman isn’t afraid to dress up. She always stands out wherever she goes. CHERRY VERIC: “Homage” is my tribute to that part of me as a designer: artistry and beauty. The prints are classical scenes of the religious and mythological, reminding one of the works of the Old Masters like Rubens. My piece is made of printed gazar. I want people to feel heaven on Earth, to want to put art at the heart of beauty. I want them to think that they can own a wearable piece of celestial art. BESSIE BESANA: My fall/winter collection is entitled

“Concrete Jungle” and it depicts how I perceive women will walk on the streets of New York this fall. My piece as worn by Binibining Pilipinas Supranational 2018 Jehza Huelar is a fluid metallic silver with side details. This woman is going to a benefit dinner or a gala night of some sort. She is bold, strong and unapologetic with her style. BAMBA LIMON. My woman is going to an opening of an exhibit at an art gallery. The title and inspiration of my collection is “Royale Tale”. My inaul piece is a longsleeved tunic in a poppy color with metallic sheen. It’s considered as Bara-Bangsa, a Maguindanaoan term that translates to royalty, dignity and nobility. AVEL X MATTEO: Says Avel Bacudio, “Matteo is someone who has always had good taste. When he brought up his idea [of collaborating on a jeans line] with me, I did not think twice. Yes, I am the designer, but he was very hands-on and passionate about this project. This collection we created makes designer jeans accessible to a broader market. I can’t wait for everyone to see what Matteo and I worked on.” Sportsman-actor Matteo Guidicelli, meanwhile, says: “I told him I was really eager to design a denim line with him. From the start, he really understood my vision. That’s why we were able to come up with designs that are exactly how I wanted them to be— sexy yet wearable at the same time. I’m very happy with how the jeans turned out. They’re very me.” ■

MODEL Tales Soares lies on the catwalk as a paramedic tends to him after he collapsed during São Paulo Fashion Week in São Paulo, Brazil, Saturday, April 27. A statement from organizers said that Soares died after taking ill while participating in the São Paulo’s Fashion Week. AP

MODEL IN SÃO PAULO DIES AFTER TAKING ILL ON CATWALK RIO DE JANEIRO—A model participating in São Paulo’s Fashion Week has died after getting sick and falling on the catwalk. A statement from organizers said Tales Soares took ill on Saturday while in a parade of fashion brand Ocksa. A medical team attended to him on the catwalk and Soares was later taken to a hospital, where he was pronounced dead.

The statement did not provide more details. Daily Folha de S. Paulo reported that Soares tripped on his shoelace and fell. According to the paper, people in the crowd initially thought his fall was part of a performance. A photo in the newspaper showed the model lying face down on the catwalk while paramedics attended to him. The paper reported Soares was 26 years old. AP JAZ CEREZO

JUN ESCARIO

PHILIP RODRIGUEZ

Style

BusinessMirror

Monday, April 29, 2019

www.businessmirror.com.ph

Today’s Horoscope

❶ IBARRA’S

Salvador World Timer Watch collection made for travelers.

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Andre Agassi, 49; Uma Thurman, 49; Michelle Pfeiffer, 61; Jerry Seinfeld, 65.

❷ STYLISH

bags and necklace made of upcycled pull tabs by Gifts That Give Back.

HAPPY BIRTHDAY: Manage your time wisely. Much can be accomplished this year if you use your ingenuity and discipline to get things done. Opportunities are within reach, but so are opportunists waiting to take advantage of you. A hands-on approach to money, health and contractual matters will deter others from taking advantage of you. Stakes are high; do your due diligence. Your lucky numbers are 8, 19, 23, 28, 31, 36, 40.

ARIES (March 21-April 19): Communicating, traveling and learning are featured. A challenge will pique your interest and turn into an unforgettable experience. Taking charge of a situation will leave a good impression. Romance is in the stars, and personal improvements can be initiated. ★★★

b ❶

TAURUS (April 20-May 20): Stay focused on your goal. It’s up to you to bring about positive change and to make adjustment to your life or job that will make you stand out. Don’t miss an opportunity because you are too stubborn or slow to react. ★★★★

❷

A story on culture and social enterprise B

RINGING together artisans behind our living traditions in an afternoon of artisanal talk and live product demos, Kwentong Kultura was staged recently at The Podium. These are stories behind social enterprise brands available at Kultura Filipino (www.kultura�ilipino.com) that bring together culture and communities in their amazing products: Beyond Borders, Gifts that Give Back, Invisible Sisters, EN Barong Filipino, Ibarra, Gifts & Graces and Tumandok—brands showing stylish upcycled products while providing livelihood for families as far north as Abra and as far south as Lake Sebu in South Cotabato. Beyond Borders aims to continue the inabel tradition through their stylish inabel blankets, covers, towels and napkins. These are hand-woven using antique wooden looms and a weaving technique that has been handed down through generations. Through its livelihood program, Beyond Borders aims to see more women take back to the loom, and for them to see the value of preserving the intricate craft that has long been with their families.

Gifts That Give Back promotes two social advocacies: environmental awareness and economic empowerment for the Artisan Women of Tondo. The stylish handbags and accessories of GTGB are made of recycled and donated pull tabs, as well as threads, cords and strings. Invisible Sisters works with poor women producing fashion products from plastic waste— plastic, metal wires and scrap cloth—through handcraft production techniques. The name Invisible refers to their use of waste materials kept from landfills and waterways, reducing solid waste pollution; and from the participation of poor urban women who are unable to participate in the formal economy—they are “invisible” in our society. EN Barong Filipino has for more than 50 years devoted meticulous attention and respect to the national attire, elevating the design and creation of the barong to an art form. Meanwhile, Ibarra, the first locally assembled Filipino watch brand, was established with the

GEMINI (May 21-June 20): Keep your intentions and your plans a secret until you have everything in place. Walk away from anyone prying into your affairs or trying to entice you to take part in something that is excessive or risky. ★★

CANCER (June 21-July 22): Do your own thing. Work on a project that encourages you to strive for personal growth and a better lifestyle. Invest your time in relationships and projects that will help you expand your mind, as well as your friendships. ★★★★★

inspiration and passion for the art of watchmaking, and the dream to rekindle the Filipino heritage in timekeeping. Skilled Filipino technicians assemble Ibarra watches using world-class materials manufactured and sourced from the best. Gifts & Graces (G&G) and Tumandok Crafts Industries products, like the other brands featured here, are beautifully and thoughtfully designed by artisans using traditional techniques, upcycled products and natural raw materials, crafted by Filipinos from various communities around the country. Uniquely Filipino products are available at Kultura in SM Makati, SM Megamall, SM Mall of Asia, SM Aura Premier, The Podium, SM City Cebu, SM Seaside City Cebu, SM Lanang Premier, SM City Puerto Princesa and at most SM Stores. Its boutiques are at Taal Vista Hotel, Pico de Loro and Molo Mansion Iloilo. Visit www.kultura�ilipino.com to discover more about Kultura. ■

Carry style around with you

LEO (July 23-Aug. 22): Consider what’s possible. If you want to make a change, don’t include others in the transformation. Work on yourself, your attributes and being the best you can be. ★★★

VIRGO (Aug. 23-Sept. 22): Get involved in events or activities that will enhance your knowledge or target skills that can help you advance. Networking and meeting someone who is cutting-edge will inspire you. ★★★

LIBRA (Sept. 23-Oct. 22): Don’t try to change someone else. Concentrate on yourself and what you can do to make your life better. If someone doesn’t want to tag along, continue on your own. ★★★

SCORPIO (Oct. 23-Nov. 21): Make changes for the right reasons. If someone is pressing you to overspend or get involved in something questionable, back away. You’ll do best if you work on things that make you happy and relationships that matter to you. ★★★★★

SAGITTARIUS (Nov. 22-Dec. 21): Keep your distance from anyone who tends to meddle or spread rumors. Make improvements to your living space, and spend time with someone you love. A promise or plans you make will give you something to look forward to. ★★

CAPRICORN (Dec. 22-Jan. 19): Matters concerning institutions, government agencies or medical facilities should be handled carefully. If you act in haste or you don’t look at the fine print, it will end up costing you. ★★★★

INTRODUCED in 1997, the D-Bag was part of the first-ever Tod’s bag collection. The bag was a classic, chic reflection of the quality and design of Tod’s shoes. From the moment of its introduction, the D-Bag proved popular, particularly with Tod’s celebrity clientele: Princess Diana, Princess Caroline of Monaco, Cindy Crawford, Kristin Scott Thomas, Julianne Moore and Hillary Clinton are among the many prominent women who have owned one, now followed by Nicole Kidman, Catherine Middleton, Anne Hathaway, Charlize Theron, Diane Kruger, Naomi Watts, Cate Blanchette, Demi Moore, Charlotte Casiraghi and many others. Since its debut in 1997, the D-Bag has seen few major evolution, softening its structure and silhouette over the years and adding different elements. In Spring 2019, Tod’s is relaunching the bag and is now named as D Styling. In the Philippines, Tod’s is exclusively distributed by Stores Specialists Inc. Refinement, understated luxury, impeccable taste, enviable quality—these are the sign posts that have always distinguished Tod’s, and this is what the new D Styling Bag continues to represent. The latest iteration is softer, with no lining, a hand cut finish and a contemporary silhouette. Meanwhile, the special-edition Luxury D Bag is enriched with platinum-plated hardware.

AQUARIUS (Jan. 20-Feb. 18): Physical fitness, a healthier lifestyle and events geared toward helping a cause you believe in should be priorities. New friendships can be established that will encourage you to be the best you can be. ★★★

PISCES (Feb. 19-March 20): Someone will offer false information or use the power of persuasion to take advantage of you. If you want to make a change, do so for the right reason, not because someone is twisting your arm. ★★★ BIRTHDAY BABY: You are driven, adaptable and compassionate. You are responsive and outgoing.

‘enough!’ BY TOM PEPPER The Universal Crossword/Edited by David Steinberg

ACROSS 1 Essential acid 6 Way up the slope 10 Share a border 14 Gymnast Comaneci 15 Perry Mason creator Gardner 16 Philosopher Descartes 17 How to make the letter K from a kit? 19 ___ of Man 20 Wheel turner 21 Three: Prefix 22 “Et cetera” language 23 How to make the letter V valid? 27 Sheriff’s assistant 30 Instrument played with hands and feet 31 Join forces 32 Tarzan’s transport 34 Soak (up) 37 How men can become the letter N? 41 Medium strength? 42 Sainted Norwegian 43 Goofballs 44 Bizarre

47 Screwed up 48 How to make the letter R rarest? 51 Musical category 52 Pimple 53 Fairy-tale starter 57 “___ girl!” 58 How to form the UN with U Thant? 61 Nickelodeon’s ___ 101 62 “Got it” 63 Scarfs (down) 64 Wraps up 65 Stethoscope wearers, for short 66 Like salad greens DOWN 1 “Puppy Love” singer Paul 2 Tailless cat 3 Beyonce, to the Beyhive 4 Kudos on the green 5 Acorn, in time 6 Four: Prefix 7 Cook with intense heat 8 1980s sitcom extraterrestrial 9 Zebra with a whistle 10 “7 Rings” singer Grande

11 12 13 18 22 24 25 26 27 28 29 32 33 35 36 38 39 40 45 46 47 48 49 50

Dog handler’s dream Totally dark Bat mitzvah attendee ___-bitty Sawmill input Salt Lake City team Apt network for a chemistry show Closed, as curtains “Bro!” Grandson of Adam Located exactly Fancy parking option Retirement vehicle, briefly Present opener? Pain in the neck A famous Amos They flew from Pandora’s box How some boxers go at it Tanning hazards Where to start playing a round Behrs of 2 Broke Girls Mount, as a horse 15th-century Mexican Marriage and burial

51 54 55 56 58 59 60

Long look Saints’ home, familiarly Sleeve feature Craft-selling site Spanish hero El ___ Private entertainment grp.? Leatherworker’s punch

Solution to Friday’s puzzle:

Show BusinessMirror

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Monday, April 29, 2019

Idris Elba marries model Sabrina Dhowre in Morocco

MARC FELIX (from left), Yussef Esteves and Roeder Camañag played Jesus in a variety of Lenten productions

LONDON—British actor Idris Elba has married model Sabrina Dhowre in Morocco. Images featured by British Vogue on Instagram showed the star of Luther sharing an embrace with Dhowre, a former Miss Vancouver. The magazine says the couple exchanged vows on Friday at the Ksar Char Bagh hotel in Marrakesh. The bride wore custom gowns by Vera Wang. For the ceremony, she wore a classic white off shoulder gown and later changed into an embroidered dress with pearls and gemstones. Elba wore a bespoke suit by Ozwald Boateng. The celebrations were spread over three days, with guests attending a “colors of the Souk” dinner the evening before. Elba proposed last year by dropping to one knee before a screening of his film Yardie at the Rio Cinema in east London. AP

Prince Harry attends public event as royal baby wait goes on LONDON—Prince Harry has attended a service commemorating war dead from Australia and New Zealand as he and his wife Meghan await the birth of their first child. Meghan is due to give birth soon, though the couple hasn’t revealed the due date or their birth plans. Harry was a last-minute addition to Thursday’s Anzac Day service at Westminster Abbey, attending alongside his sister-in-law Kate, the Duchess of Cambridge. Prince William is visiting New Zealand, where he has met survivors of the Christchurch mosque attacks. Harry’s attendance led bookies to shorten the odds on the baby being born in May. Rupert Adams of William Hill said bookmakers “were as surprised as everyone else that Harry decided to attend a public event as we assumed the baby was imminent.” AP

JM DE GUZMAN

Heeding the call ALL ACCESS RICKY GALLARDO

rickygallardoTFI@gmail.com

SIDE from a few who flooded their socialmedia walls promoting themselves no end during Holy Week, some of our actors also quietly heeded the call to take on the role of Jesus Christ during the recent commemoration of the solemn period in Christianity. Actors Yussef Esteves, Marc Felix and Roeder Camañag quietly gave life to their respective takes in portraying Christ on different platforms. Esteves, who appears on many GMA programs as a supporting actor, flew to Leyte for the reenactment of the annual passion of Christ, a tradition of the Palo Cathedral for 45 years now. It’s the first time the organizers invited an actor to play Jesus, and Esteves feels very humbled. “I am grateful to be the first actor in the town of Palo to be given the task of playing the role of Christ. For many years now, they’d handpick a local devotee to take on the

main role and tell the story of Jesus last few hours as He walked the streets leading to His crucifixion. It became more than sharing my passion as an actor, because it turned out to be a meaningful spiritual reflection on my part, a fulfillment of a calling that was unplanned,” he told us. Esteves, who has been growing his locks for many years now, shared that his late American father was a nonbeliever. “He never talked to us about God or religion. I was never sent to a Catholic school and as I grew older, I learned to be more spiritual than religious. But this experience really awakened my senses to delve deeper into things I never really thought I’d give priority to, like faith, hope and spirituality.” He added, “The preparation to play Jesus Christ was not easy. I admit to having sleepless nights, bouts of anxiety and I even found myself in intermittent deep prayers. This experience has definitely become a highlight in my personal timeline.” Like Esteves, Marc Felix’s true passion is acting. A farmer from Bicol, Felix has started to take his first big steps as an actor by scoring good roles in movies like Kerwin Go’s Mina-Anud and the coming Cinemalaya entry Ani, by new filmmakers Kim Zuñiga and Sandro del Rosario. But during Holy Week, he played what he considers his “most difficult role to date.” “Playing Jesus is definitely more than just breathing life to a character. It entails a lot of personal commitment because I believe no actor can come close

to being as real as the greatest man who ever lived,” Felix said. It is his fourth year to be part of this annual Lenten street play organized by the San Raphael the Archangel Parish Church in Pili, Camarines Sur. “The first two years, I was part of the technical team and was in charge of documenting the play through a video camera. It’s my second year playing Jesus Christ. The experience is difficult to put into words,” he added. Meanwhile, ALIW Hall of Fame awardee Roeder Camañag has been playing Jesus Christ for as long as he can remember. “I am turning 50 this year, and it warms my heart that I am still blessed by God to be able to have the strength to do the musical Daan ng Krus.” Maestro Jesse Lucas composed the original music from the libretto of Jose Jeffrey Camañag, who also sits as the director of the live performance. Camañag sings and acts on stage at the same time, and he admits that for an actor his age playing a 33-year-old character, the challenges can be exacting. “But by the grace of God, it still works, thanks to the Teatro Mensaheros team that selflessly shares their time, passion and resources to bring this play to life.” This year, Daan ng Krus was performed in General Trias City, Noveleta City, Valenzuela City and at the Concert at the Park in Luneta, Manila. “If God permits, we will still showcase this special Lenten musical as long as there are audiences that would want to see it,” Camañag ended. ■

ARCI MUÑOZ

The ‘bigger picture’ in love and relationships via ‘Last Fool Show’ A FILM within a film is Star Cinema, N2 and EMBA’s latest movie offering that will be screening in most countries worldwide via TFC at the Movies. Some people fantasize about seeing their life turned into a film, with their favorite stars portraying them and the people in their lives. But what happens if your life is going to be turned into a film and you must be the director? This is the theme of the romantic-comedy Last Fool Show, which stars real-life friends Arci Muñoz and JM de Guzman under the direction of Eduardo Roy Jr. and produced by Star Cinema, N2 and EMBA that will be screening in most countries worldwide via TFC at the Movies. Last Fool Show tells the story of Mayessa (Muñoz), an award-winning director who will take inspiration from her failed relationship with Paulo (de Guzman) to create her first romantic-comedy film. But things will get a bit more complicated for Mayessa when she crosses paths again with her exboyfriend Paulo. How does doing this film affect Mayessa’s view on her failed relationship with Paulo? Will this lead them to a second chance, or will this forever end the love story they once had? Last Fool Show screens via TFC at the Movies in the following regions: France on April 28; Australia, New Zealand, Brunei Darussalam and Papua New Guinea starting May 2; and in Saipan starting May 3.

GABBY CONCEPCION and Jennylyn Mercado

DEREK RAMSAY and Andrea Torres

GMA new program offerings amp up summer fun THIS summer, GMA turns the heat up a notch as the network debuts its summer campaign showcasing its latest program offerings that will surely keep the viewers’ eyes glued to the screen. GMA recently launched the plug dubbed “Basta’t Ka-Summer Kita, Kapuso!” which features the sizzling cast of new dramas as their imagination takes them to a vibrant summer destination. The colorful sceneries were shot at the Inflatable Island in Subic, Zambales, the biggest floating playground in Asia. Leading the list of GMA’s hottest offerings is the recently launched afternoon series Bihag. A thoughtprovoking tale of how one mistake can lead to another, it stars Max Collins, Mark Herras, Jason Abalos, Neil Ryan Sese, Raphael Landicho and Sophie Albert. Also just launched recently is the prime-time offering Love You Two. Seasoned actor Gabby Concepcion

and box-office star Jennylyn Mercado bring good vibes to audiences via the new rom-com series, in which the two stars form a wacky love triangle with Shaira Diaz. Also in the cast is Solenn Heussaff. Set to launch soon is Dahil sa Pag-ibig, which will pair GMA stars Benjamin Alves and Sanya Lopez for the first time. Also joining the cast are Pancho Magno and Winwyn Marquez. Last but definitely not the least is the muchawaited TV debut of Derek Ramsay as the newest addition to the roster of GMA stars. Derek will headline The Better Woman alongside Andrea Torres. The upbeat and fun jingle “Basta’t Ka-Summer Kita, Kapuso!” was performed by Kyline Alcantara with music and lyrics by Mikoy Morales. Following the plug’s launch on April 8, netizens quickly shared their excitement about the new and

upcoming GMA shows, applauding as well how the plug and the song were nicely done. On Facebook, Cindy Silvestre Roldan shared, “Wow, ang ganda ng pagkagawa summer na summer na talaga.” Neleb Oinuj posted: “Ang ganda, kaabang-abang bawat programa.” “Ang hot naman nila pinatunayan nilang hot talaga ang summer,” Abi Solis also commented. On Twitter, @ranmasaotome143 even asked for a full version of the catchy song. “Release naman po kayo ng full version ng song. Maganda ang song, chill at beach party ’yung vibes...I think papatok sya ipatugtog sa mga beach [parties].” The “Basta’t Ka-Summer Kita, Kapuso!” full video can be seen on www.gmanetwork.com, and also on the network’s official social-media accounts.

D4 Monday, April 29, 2019

PHOTOS: @VICECOSMETICSPH ON INSTAGRAM

Style

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Finally, a shade range that doesn’t neglect ‘morenas’ AND THEN SOME DINNA CHAN VASQUEZ @dinnachanvasquez luckydinna@gmail.com

T is so hot that I can probably say that this is the hottest summer of my life, surpassing the one that I spent in Cambodia decades ago. It is so hot that I have hardly touched my favorite liquid products. Even the sunscreen I have been using is a cushion. I have not used highlighter in a bit and if you know me, you would know that that is unusual. There are days when I don’t want to use makeup at all. I would say the recent launch of Vice Cosmetics Duo Finish Foundation was timely because while it was already summer, the temperature had not yet gotten to the point that you would not want to wear any makeup at all. I was slightly hesitant to try the product because I have had shade matching problems with drugstore face bases before, which would usually be too pink. But no, I was told, there was going to be a color for the wide range of Filipina complexions. I was matched to Moreyna, which I thought was the darkest but again I was surprised that it wasn’t. It’s the third to the last shade with two other shades darker. Before I properly reviewed the product, I decided to test it for a few weeks in this scorching heat. What do you know? Moreyna

is still slightly dark on me. I could wear it when I wanted to look tan. Otherwise, I was a shade lighter. But let me get back to that later. Vice Cosmetics Duo Finish Foundation is a powder foundation in the brand’s signature pink casing. It comes with a sponge. According to Rhoda Campos, one of the brand’s owners and a beauty experts, she prefers using it with the sponge than a brush. The name Vice is embossed on the powder, which is soft and finely milled. So the eight shades—Tisay, Chesa, Putinamez, Kinesa, Shade ni Vice, Moreyna, So Pinay! and Flawlesa—are divided into light, medium and dark. The first two are light, of course, and the last three are dark. I was matched to Moreyna but I realized I was wearing a darker foundation that day. I actually prefer Shade ni Vice for normal days. I love how the darker shades are perfect for olive tones. No flashback whatsoever. The powder, when applied dry, gives light coverage, making it perfect for summer. Applied with a damp sponge, it offers medium coverage. It can be worn alone or over a liquid product. I prefer it worn alone. The powders are cruelty-free and US dermatologist-tested, offer light to medium oil control, and have SPF 25. I would still wear a sunscreen under it, though, given this heat. I wore the powder for two weeks and didn’t break out. I think Vice Cosmetics’s first foray into face bases is a success. I love how Vice Cosmetics and other Filipino beauty companies are churning out more and more wonderful products for Filipina skin. Vice Cosmetics Duo Finish Foundation is available for P245 at Vice Cosmetics kiosks, Watsons, SM Beauty and Robinsons and Landmark Department Stores. ■

A season of fresh wanders for Barbie Imperial WITH the face of a doll and the heart of a fighter, actress and model Barbie Imperial is on top of the world. But just like any other millennial, she ensures to have a work-life balance by exploring the outdoors with her friends. With summer upon us, Barbie shares her excitement to be one with nature. “I’m more of a bundok person rather than a beach person. I tried hiking for the first time last year with my friends and since then, I’ve always looked forward to doing it again this year,” she said. And while it can take hours and hours to reach the top of a mountain, she says that preparing for the adventure is just as exciting as the trip itself. “Personal hygiene comes first. And because hindi maiiwasan magpawis habang umaakyat ng bundok, I make sure that I always have my Blackwater Desire Deo Spray [www.blackwater.com.ph] with me,” she explains. A fresh scent of baby powder with hints of orange, lily and rose, Blackwater Desire fits Barbie perfectly. “Kahit magpawis ako, hindi ako nagkakaroon ng foul smell. Parang powder ’yung effect niya sakin—very gentle and compatible with my skin.” Another essential in preparing for the hike, according to Barbie, is to make sure she’s in top form. A fitness advocate, the actress keeps her muscles toned by hitting the gym at least thrice a week—something she says feels more like pleasure than a task. “That’s another goal of mine this summer—to be more fit and healthy. And whenever I workout, I never leave my Blackwater Flora Calm Heart or Blackwater Fame Glamorous. Parang tubig lang—hindi pwedeng

BARBIE IMPERIAL

hindi ko dala because it really keeps me feeling fresh kahit ilang oras na ako sa gym,” she said. Whatever her mood in the gym, Barbie relies on Blackwater Calm Heart, a blend of mandarin blossom with pink pepper and ginger for a sexy hint of spice; and Glamorous, a fragrance of mild vanilla and musk to keep her smelling fresh all day, even after working out. With unbelievable heat bearing down on everybody, think of ways, like Barbie Imperial has, to keep yourself feeling cool and smelling fresh.

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Monday, April 29, 2019 E1

WHEN AIRBNB LISTINGS IN A CITY INCREASE, SO DO RENT PRICES

By Kyle Barron, Edward Kung & Davide Proserpio

NLY a few years ago, most travelers stayed in hotels. Airbnb changed that. As of 2018, the company offers over 5 million properties, in over 85,000 cities across the world, and its market valuation exceeds $30 billion. Critics have argued that home-sharing platforms like Airbnb raise the cost of living for local renters. It is not difficult to see why the idea could be true more widely: By making short-term rentals easier, Airbnb could cause some landlords to switch their properties from long-term rentals, which are aimed at local residents, to short-term rentals, which are aimed at visitors. Cities and towns have a finite supply of housing, so this process would drive up rental rates over time. Because of the limited empirical evidence, we decided to dig deeper. We found that a 1-percent increase in Airbnb listings is causally associated with a 0.018-percent increase in rental rates and a 0.026-percent increase in house prices. While these effects may seem very small, consider that Airbnb’s year-over-year average growth is about 44 percent. This means that, in aggregate, the growth in home-sharing through Airbnb contributes to about one-fifth of the average annual increase in US rents and about one-seventh of the average annual increase in US housing prices. By contrast, annual ZIP code demographic changes and general city trends contribute about three-fourths of the total

rent growth and about three-fourths of the total housing price growth. In our study, we present two additional results that help explain the underlying economics. First, we show that ZIP codes with higher owner-occupancy rates (the fraction of properties occupied by the owners themselves) are less affected by Airbnb. Second, we present evidence that Airbnb affects the housing market through the reallocation of housing stock. On the one hand, these platforms allow homeowners to make money when they have more room than they need. On the other hand, absentee landlords are reducing the housing supply. According to our results, one way to reduce the latter effect while retaining the benefits of home-sharing would be to limit how many homes can be added to the short-term rental market, while still allowing owner-occupiers to share their extra space. Kyle Barron is a former health-care researcher at the National Bureau of Economic Research. Edward Kung is an assistant professor at UCLA. Davide Proserpio is an assistant professor at the University of Southern California.

Raising wages doesn’t have to be bad for your bottom line

By Zeynep Ton

HE “working poor” are a growing problem in America—one that is increasingly embarrassing to the corporate elite. Business leaders who are morally inclined to do the right thing should and can play a stronger role in solving this problem by raising wages to a level where their employees’ earnings cover the cost of living.

When doing the right thing has little business risk

DURING the last few years, several business leaders have substantially increased the minimum wages for their employees, citing both a moral imperative and a “business case.” In 2015, Mark Bertolini, CEO of Aetna Insurance, announced a minimum wage hike from $12 an hour to $16 an hour. And in 2016, Jamie Dimon announcedthat JPMorgan Chase would increase the minimum wage for 16,000 of its employees from $10.15 an hour to anywhere from $12 to $16 an hour, depending on where they worked. What these examples have in common, however, is that the company could already afford the raise.

When doing the right thing can wipe out profits

WHEN labor intensity and profit margin seem to forbid higher wages, how can they make the moral and competitive case work financially? The way out of this trap is to design jobs in a way that increases workers’ productivity and enables them to drive sales and lower costs. In short, you make it possible to pay workers more by making them worth more to your business. Costco, for example, can offer a $15-an-hour minimum wage and pay store employees an average of about $22 an hour with generous benefits because it has made specific operating system design choices— such as offering fewer products and promotions, setting clear standards and empowering employees to make decisions—which enable its employees to be highly productive and to contribute significantly to customer value. Zeynep Ton is an adjunct associate professor at MIT’s Sloan School of Management.

How board members really feel about ESG THE RAPID GROWTH OF DIGITAL BUSINESS IN AFRICA By N. Craig Smith & Ron Soonieus

RIVING sustainable business practices in companies requires involvement from boards of directors. And there is some evidence that environmental, social and governance, or ESG, criteria are rising up the board agenda. Many board members today have the right aspirations, but there is a substantial gap between those aspirations and the capacity of their boards and firms to deliver. To better understand this gap we interviewed 25 experienced European nonexecutive directors representing 50 large, well-known companies. We discovered that directors cohere around five distinct archetypes of behavior, and identified strategies to help directors overcome resistance to ESG issues at the director level.

The deniers

DENIERS are adept at “greenwashing,” using PR or corporate communications to overstate the environmental benefits, or understate the en-

vironmental damage, of a company’s products and services. Approach sustainability—indirectly if necessary—through specific, concrete concepts like cost reduction, business opportunity, consumer demand or risk exposure.

The hardheaded

FOR hardheaded board members, sustainability tends to be reduced to strategic reasoning. Again, it’s essential to meet board members on their own terms. Start with areas where the business case is strong and results are tangible.

The superficial

THESE directors are well meaning but are often scared of taking the lead. The trick with these board members is to play to their good intentions. They often don’t know where to start, so make positive suggestions and choose them wisely.

The complacent

UNFORTUNATELY, many early adopters have not kept up with the latest developments in sustainability. Acknowledge past successes

while highlighting current shortfalls. Seek out like-minded directors and create coalitions.

The true believers

FOR true believers, the long-term economic viability of their organization is closely linked and dependent on social and environmental responsibility. True believers need to consider not only how best to engage with other board members but also not to get too carried away. As sustainability takes on more weight globally, and as investors continue to reward companies for improvements to material ESG issues, we believe it is only a matter of time before board directors find that bridging the gap between aspirations and action is a requirement of fiduciary duty, with all the attendant obligations and liabilities. N. Craig Smith holds the INSEAD Chair in Ethics and Social Responsibility in Fontainebleau, France. Ron Soonieus is an INSEAD executive in residence and managing partner at Camunico.

By Acha Leke & Tawanda Sibanda

FRICA already has 122 million active users of mobile financial services, more than half the global total. Its number of smartphone connections is forecast to double from 315 million in 2015 to 636 million in 2022, twice the projected number in North America. Over the same period, mobile data traffic across Africa is expected to increase sevenfold. In our book, Africa’s Business Revolution: How to Succeed in the World’s Next Big Growth Market, we spotlight Africa’s unfolding digitization and show how investors and entrepreneurs from across the world can be part of it. Digital technologies allow forwardlooking businesses to recast Africa’s challenges as an opportunity to innovate and address massive unmet demand. We estimate that private consumption in Africa rose from $860 billion in 2008 to $1.4 trillion in 2015—

significantly higher than that of India, which has a similar population size. We forecast that it could reach $2.1 trillion by 2025. Yet Africa’s consumers are still woefully underserved: There are 60,000 people per formal retail outlet in Africa, compared with just 400 per store in the United States. Entrepreneurs are harnessing technology to solve deep-seated gaps in Africa’s markets. One is Mitchell Elegbe, CEO of Nigerian start-up Interswitch. He told us how, back in 2002, he observed people carrying piles of cash to pay for everything from groceries to cell-phone airtime to utility bills. Today, Nigerian consumers and businesses make more than 300 million digital transactions a month across a suite of Interswitchenabled channels. Consider higher education, where Africa’s rate of enrollment is half that of India’s. One tech-enabled innovation to close that gap is the African Leadership University (ALU), whose campuses in

Mauritius and Rwanda empower students to manage their own education using technology, peer-to-peer learning and four-month internships with partner companies. Founder Fred Swaniker set about creating a business model for higher education from scratch. “Our university produces talent that competes with students from Harvard and Stanford,” he told us. “But we do it using one-tenth of the real estate and at one-tenth to one-twentieth of the cost.” We believe it is time to step up, scale and replicate such innovations. Much greater investment is needed in the African technology sector. And given Africa’s education gaps, shortages of digital talent can be a further barrier to growth. That calls for innovative approaches. Acha Leke is the chairman of McKinsey & Company’s Africa practice. Tawanda Sibanda is a partner at McKinsey & Company and a leader of the firm’s digital services work across Africa.

E2 Monday, April 29, 2019 • Editor: Efleda P. Campos

Education BusinessMirror

Olongapo special children learn to paint the fun way By Henry Empeño

Correspondent

UBIC BAY FREEPORT— Watercolor may be a difficult painting medium to handle, but some special children from Olongapo City created lovely watercolor art here on Easter Sunday with a little help from some friends. Around 35 children from the Special Education (SPEd) Center of the Gordon Heights I Elementary School in Olongapo City joined the fun learning activity held at the Moonbay Marina Water Park where they learned to paint on Easter eggs. The art advocacy group Rise and Excel in Arts (Rexa Center) conducted the special art activity as part of the Revo Festival launched on April 21 by the Rotunda Bar & Grill, Ocampo’s and GamaGen Media Services to further promote Subic as “Event Capital” of Central Luzon. The SPEd Center where the kids came from was a beneficiary of the

festival, along with three other groups. “The kids did remarkably well, considering this was the first time for most of them to paint in watercolor,” said Rexa Center executive director Carrie Aspa, who headed a team of volunteers that showed participants how the Easter-egg painting is done. “We encouraged them to try just doing brushstrokes, to simply express themselves, as opposed to producing an artwork. So there was no standard to follow,” Aspa added. She noted the participants mixed their colors well and chose to work with the hues they were most hap-

SPECIAL children learn the basics of watercolor painting from a Rexa Center art facilitator in Olongapo City.

py with. The children used either brush or felt-tipped marking pen to produce designs on the shell of the hard-boiled Easter eggs. Some applied colors using sponges or tissue paper to create distinctive patterns and textured look. Rexa Center tutors said the pigments used were actually food colors to ensure the cooked eggs would remain edible after the painting session. Two participants, Rhob Prince and Allyson, were unanimously

chosen by the art facilitators as the best among the lot. They each received a knitted “Brown Bunny” bonnet courtesy of the knitting club Subic Bay Hookers, a supporter of Rexa Center projects. The Easter egg-painting session was capped, of course, by the eggeating part, which some participants were so eager to go into early on in the painting session. Yes, the kids had fun creating their painted Easter egg, and impressive though their art was, some happily ate it, too.

NGOs, corporate foundations arm Filipino youth with education to combat poverty

AISING young Filipinos to be well-rounded, active and contributing members of the society indeed takes a village. ZEP2030 and a number of partners that have worked together, dedicating time, expertise and resources to empower out-of-school and high-risk children in making a positive impact in their lives and the society. ZEP2030, or Zero Extreme Poverty 2030, is a collective movement of nongovernment entities working together on poverty-alleviation programs across the country. Formed in 2015, ZEP2030 is on a mission to uplift 1 million Filipino families from extreme poverty to self-sufficiency by 2030. The Association of Foundations (AF), lead organization of the Edu-

AIM takes UN SDGs to heart

ELIPE CALDERON, CPA, CMA, PhD and head of the Washington SyCip Graduate School of Business, is a man with a mission—to promote the UN’s Sustainable Development Goals. Since becoming head of AIM’s flagship school, Calderon has imbedded the principle of the Triple Bottom Line of people, planet, and profit into the curriculum of both the Master in Business Administration and the Executive Master in Business Administration programs. Definitely, this is a pioneering and differentiating stance for the school and certainly the only right path to take toward the realization of UN’s 2030 Agenda. As a thought leader in the field of sustainable finance, Calderon is an acknowledged expert on the topic. At present, he is AIM’s representative to the United Nations initiative on Principles for Responsible Management Education. He is a sought-after speaker on sustainable finance and has addressed forums organized by both Philippine and global organizations. Among these are the Bangko Sentral ng Pilipinas, the Civil Service Commission of the Philippines, the Bankers Association of the Philippines, the Maybank Foundation, the Asean Bankers Association, the International Finance Corporation, the Dutch Association for Sustainable Development, the UK-based Earth Security Group, the Japan-based Hitotsubashi ICS and Belgium-based The Academy of Business in Society. Calderon is among the experts in the theory and practice of sustainable finance having chosen sustainable lending as his dissertation topic when he worked for his PhD in Management at the University of St. Gallen in Switzerland. Prior to joining AIM in August 2017, Calderon worked for the Business Development Bank of Canada in Vancouver for 22 years.

cation Cluster, and its members work with ZEP2030 toward this goal. AY Foundation, BDO Foundation, J. Amado Araneta Foundation (JAAF) and WS Family Foundation are among the AF members that support and raise public awareness and engagement for ZEP2030, along with their own programs bringing quality education to disadvantaged children and youth nationwide. AY Foundation, WS Family Foundation and JAAF have been actively providing scholarships and grants to provide children and youth with the competitive advantage of advanced education that they do not otherwise have access to. WS Family Foundation partners with CARD Bank Inc. under the program CARD Mutually Reinforcing Institutions where

they have given out scholarships to 869,010 children of poor families since 2011. BDO Foundation focuses its work on financial literacy as a clear path to becoming self-sufficient. It has partnered with various institutions to bring its financial inclusion advocacy to underserved sectors, including farmers. Twentyfour million students in more than 47,000 public schools nationwide are among those expected to benefit from these programs. Other AF members who support ZEP2030 include the Aboitiz Foundation, International Care Ministries Foundation, Jollibee Group Foundation, Megaworld Foundation and San Miguel Foundation. ZEP2030 believes that poverty is a multidimensional issue that re-

quires collective action from different stakeholders. To organize their expansive network and expertise, ZEP2030 is formed by seven clusters: Education, Health, Livelihood, Environment, Agriculture and Fisheries, Housing and Shelter, and Partnerships for Indigenous Peoples. As of end 2018, ZEP2030 members and partners have initiated interventions and programs in 109 cities and municipalities from 33 provinces in 15 regions across the country. Promoting collective impact and the strength of working together, the ZEP2030 movement is calling on other nongovernment organizations, corporate foundations, and advocacy groups to join the cause of eradicating poverty.

SCHNEIDER ELECTRIC LAUNCHES GO GREEN IN THE CITY 2019

CHNEIDER Electric, the leader in the digital transformation of energy management and automation, launches Go Green in the City 2019, its annual global student contest to find bold ideas and innovative solutions for smarter, more energyefficient and sustainable cities. Now in its ninth year, Go Green in the City is a major event for business and engineering students worldwide. In 2018, over 24,000 young innovators from more than 3,000 universities in 163 countries took part, including 58 percent women. The stakes for Go Green in the City competitors are high. Not only do the competitors get a chance to make an impact in powering the digital economy, they also get a chance to win an international trip to Schneider Electric’s Global Innovation Summit 2019, a two-day event on October 2 and 3, 2019, in Barcelona, Spain. This prestigious event will bring together Schneider Electric experts and world-leading industry thinkers to share insights and bold ideas on the challenges and opportunities of Powering the Digital Economy. Students will have opportunities to be connected and be mentored by industry experts, ultimately to work for Schneider Electric. In 2019, the competition should attract even more interest, thanks to the four specific topic categories. Students are invited to submit their bold ideas in one of the four categories: “Buildings of the Future,” “Plants of the Future,” “Grids of the Future,” and “Sustainability and Access to Energy.” The challenges are connected to Schneider Electric’s sustainable business strategy and reflect the company’s commitment

with UN’s Sustainable Development Goals (SDG), inviting students to share ideas to reshape the future and show a more effective side of sustainability: the connection of the social and environmental impacts with technology and the business world. Olivier Blum, global chief human resources officer at Schneider Electric, said, “The young generation today face considerable challenges in creating a bright future for themselves. Achieving a sustainable world future is only possible when empowering young people and helping them to become a driving force for innovation. I am proud that Go Green in the City has become a platform for students to develop their ideas for a better tomorrow.” In 2018, De La Salle University-Manila students Don Emmanuel Santamaria and Fae Nicole Serrano claimed the Philippine country finals with their E-Hub Project. Their award-winning mobile application was designed to be a platform that lets users invest and donate on renewable energy projects, project developers propose ideas and initiatives and set up crowdfunding and be an e-store to buy and sell products related to green energy. Santamaria and Serano’s local success marks the first back-to-back Go Green in the City Philippine Country Finals win for the university. In 2017, DLSU-Manila students Iliana Benice Tan and Aaron Jules del Rosario won the competition and secured the first runner-up spot in the regional finals for their Glass X project. Glass X is a design that absorbs the heat being received by the building from the sun and converts it into

energy for a building’s own cooling system. Go Green in the City Filipino teams have consistently been placing in the regional and global finals from 2014 to 2017. In 2013, the Philippine team composed of Ateneo de Manila University students Alyssa Vintola and Lorenz Payonga won the global finals in Paris, France, wowing the judges with their Oscillation Hump or “Oscillohump” project. The Oscillohump was designed to harvest energy from road humps through electromagnetic induction. When vehicles encounter an Oscillohump, they press springs, which plunge magnets into solenoids, generating enough power to charge a battery. The battery can then be used to power DC loads like LED street lamps, traffic lights or closed-circuit television (CCTV), while excess energy can be used for power grids. In 2015, John Paul Santos and Christian Sta. Romana from the Polytechnic University of the Philippines grabbed the third prize of the global competition with their Electrifilter project, which generates electricity as it cleanses wastewater. Rochelle Bulan, Project Lead, Go Green in the City Philippines, and Talent Acquisition and Employer Branding Country Manager, Schneider Electric Philippines shared: “With the new categories for this year’s competition, we really want to see how far students can take their imagination as they use technology to power their ideas and help Schneider Electric transform cities, reshape industries and enrich lives. With DLSU taking securing back-to-back wins, we want to see how students this year will shake up the competition.”

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Study: 80% of kids in PHL would choose Internet over TV

N annual study led by leading kids digital media company, TotallyAwesome, said more than 8 in 10 children in the Philippines-or 80 percent-would choose to have access to the Internet over TV. The fourth iteration of the “Philippines Kids’ Digital Insights” analyses kids digital behavior, online media consumption, device usage, content, as well as brand preferences. More than one kid out of two own a smartphone. This trend has been rising steadily over the years: It revealed children prefer mobile devices such as smartphones (81 percent), followed by tablets (56 percent), and TV (54 percent). TotallyAwesome discovered one of the reasons for this is that over 55 percent of children own a smartphone, 47 percent own a tablet while only 17 percemt own a TV. With the high mobile penetration, it is not surprising that digital is the main source of information: 83 percent of children surveyed said they find out about new toy launches from the Internet; only 48 percent said they get the same information from television. Online ads spur purchases. The study acknowledges the ever-increasing impact of online advertising: Over 7 in 10 parents admitted they had bought products for their kids, who had seen it on online ads. TotallyAwesome CEO Quan Nguyen said, “We have seen children in The Philippines being very vocal and fanatical about content they see online. With a high smartphone penetration, it only stands to reason they are more impressionable to online kid influencers. Brands marketing to kids must drop bait where the fish are instead of holding on to outdated strategies.” Eighty nine percent of Pinoy kids have spending power. On top of being heavily invested into digital and mobile, kids have growing spending power. Almost 9 in 10 kids receive pocket money and about one third of them receive pocket money every

day. The study also learned Filipino children have a greater say in what they buy as their spending power increases, with many influencing their parents in the buying decisions. While 79 percent of the children still ask their parents to buy them products, almost 20 percent of them will buy what they saw online with their own money. Parents also disclosed their kids decide and have influence on the type of snacks (80 percent) or toys (81 percent) they buy, where to go when they eat out (78 percent), as well as the movies they watch (67 percent). According to the poll, snacks (69 percent), drinks (46 percent), eating out (43 percent) and toys (31 percent) are the most popular items children spend their own money on. “The study has revealed the power children have over the things they want. They get their way whether they are direct purchasers with their own cash or through their parents with pester power. Marketers may need to recognise and acknowledge the tremendous influence of Generation Alpha and GenX ” Nguyen added. Results of the study came from interviews with 320 Internet users aged 4 to 16 from the Philippines in October 2018. TotallyAwesome is the fastestgrowing kids digital media company in the Asia-Pacific region, reaching over 170 million kids monthly across desktop, mobile and online video. The company operates a kid-safe and compliant content and advertising platform. TotallyAwesome makes sure brand engagement with the youth market is safe, effective and entertaining. TotallyAwesome was founded by SuperAwesome and Inspire Ventures and is led by a track-record management team responsible for some of the top games, advertising and digital content start-ups in the world. It is headquartered in Singapore with offices in Australia, India, Indonesia, the Philippines and Vietnam.

A Foreigner’s Guide to PHL Visas and Work Permits

ILLIONS of foreign nationals arrive in the Philippines every year for tourism, study, work, business, investment, marriage, retirement, permanent residence and other purposes. Regardless of nationality, source of compensation or duration of stay in the Philippines, all foreign nationals seeking admission to the Philippines for employment or study are required to secure a Philippine visa or work permit. The Philippine visa falls under three broad categories: nonimmigrant visa, special nonimmigrant visa and immigrant visa. For starters, there are 10 types of visa commonly availed of by the foreigners including 9A Temporary Visitor Visa, 9D Treaty Trader, 9F Student Visa, 9G Pre-arranged Employment Visa and 13 Quota Immigrant Visas. To help you navigate the maze of finding the right kind of visa or work permit that you, as a foreigner, will need or you, as a service provider can offer to your clients, the Center for Global Best Practices will host a pioneering program, entitled “Philippine Visas and Work Permits: Best Practices Guide to the Philippine Immigration” to be held on Friday, May 31, 2019, at the Edsa Shangri-La Hotel, Mandaluyong City.This one-day training will provide you a complete guide to understand the different types of Philippine visas and work permits. Discussions of this program will also include detailed examples of the entire Philippine Immigration process: Philippine Visa Life Cycle, what to do after getting visas and work permits, lots of practical tips, valuable information, and many more to save you on time and avoid costly mistakes. Gain firsthand information from an immigration law expert, lawyer

Dennis Joseph D. Judan, author of the recently launched best-selling book Philippine Visas and Work Permits: A Quick Guide to Philippine Immigration. His more than 20 years of law practice started at the biggest law firm in the Philippines—SyCip Salazar Hernandez & Gatmaitan. He cofounded the law firm of Villa, Judan and Cruz in 2008 and headed that law firm’s specialized Philippine immigration department. He is currently the managing partner at Judan Law Offices. This program is highly recommended for foreign nationals traveling to the Philippines or who are already here, companies and organizations with foreign staff, foreign embassies and consulates, members of foreign chambers of commerce, international organizations, expatriates, human-resource practitioners of multinational companies, schools admitting foreign students, and anyone who would like to gain the basic understanding of Philippine Immigration. Registration is open to the general public. Interested participants are encouraged to avail themselves of the early registration savings and group discounts for a group of three or more. Preregistration is required for this limited-seats-only event. For details, check www.cgbp. org. You will also find in the website the complete list of best practices programs including Manager Effectiveness Program, 2019 Revised Corporation Code of the Philippines, Incoterms, Best Practices in Corporate Housekeeping, Crafting Sustainability Report and many more! For inquiries, you may call landlines in Manila (+63 2) 842-7148/59 and (+63 2) 556-8968/69, in Baguio (+63 74) 423-2914, and in Cebu (+63 32) 512-3106 or 07.

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How can I better manage my inbox? D

PR Matters By Millie F. Dizon

maintain your inbox and get organized,” he suggested. “Sweep away the irrelevant, archive the complete and prioritize the to-do list.”

EAR PR Matters, I recently came back from a short holiday and was overwhelmed to find my inbox swamped with e-mails that I may have to take a vacation sorting through. My work in a corporate marketing company puts me in constant touch with business associates, colleagues in the organization, as well as customers, and I can get up 100 e-mails a day. Of course, I also get my share of spam messages. It would be very helpful to me if you can share some tips on how I can better manage my inbox.

9Turn off e-mail notifications.

Notifications have a way of distracting us from doing what we are currently working on. The solution is simple: Turn off your notifications. “If you work in time blocks, you will never go more than a couple of hours without seeing your e-mails,” Miller said.

in mindless e-mail tasks 10Squeeze during downtime.

Dear Terry, Happy Easter! Your letter comes just in time for Easter, which in countries with four seasons signals spring. Traditionally, this beautiful time of the year when the snow clears up and flowers start to bloom is also the best time to do what they call spring cleaning. And that’s what Mary Squillace of The Muse suggests in her Inc.com article “10 Simple Ways to Spring Clean Your Inbox.” First of all, Terry, my colleagues and I would like you to know that you are not alone. This is a dilemma we all share between “sifting through spam, crafting the right responses and keeping taps on the messages that require follow-up.” This is not easy when you receive about 100 messages daily, many of which are business related and require a response. In her article, Squillace said “staying on top of your inbox can feel like a job like itself.” That is why she consulted professionals who share with us the secret to efficient, organized inboxes. Here are 10 tips on how to give your inbox “a little KonMari love:”

only e-mails requiring imme1Keep diate action in your inbox.

“Most days, my e-mail box has fewer than 25 messages in it,” said Leigh Ann Newman, a senior program manager at an international government consulting firm. “This is intentional. I want to be able to open my inbox and immediately see what is most urgent and requiring a response.” Newman, who receives over 100 e-mails, many of which are urgent and involve high managers every day, said that in 2008, she had the opportunity to start from scratch when her company changed to a new e-mail system during an acquisition. “It was like spring cleaning my inbox,” she said.

a ‘Waiting Folder’ for action2Create pending e-mails.

So, where do e-mails go if not your inbox? Darcy Miller, a workplace expert and founder of Pin and Pivot, was for so many years barraged with more than 150 mails a day. Creating a waiting folder for e-mails that require action from someone else before you can respond eased her inbox distress. “That way, those e-mails aren’t junking up you inbox, and it’s a great place to look each day or week to remind you of what projects are still pending,” she said.

subfolders or labels for 3Make your new BFF. Squillace said that “across the board, inbox mavens rec-

TECHNOLOGY: WHO’S AFRAID OF ARTIFICIAL INTELLIGENCE?

EVERY great technological innovation has been met, at some point, with fear. From the Luddites of the 19th century to the conspiracy theorists preparing to face our supposed robot overlords, history is rife with stories of people expecting the worst out of new tech. Anxiety in the face of disruption is a perfectly human response, and one that persists even in our quickly changing world. According to a 2017

study by the Pew Research Center, roughly 72 percent of Americans worry about losing their jobs to automation. We could guess blindly at how the numbers might stack up among Filipinos in 2019, but we won’t. Instead, we’ll take a look at the growing trends in artificial intelligence (AI), and see if they’re any real cause for alarm for today’s professionals. Specifically, we’ll take a look at the risk it poses to the vanguard of human ingenuity in today’s professional ecosystem: the creatives industry.

Knowing the ‘enemy’

WITHOUT diving into the realm of the jarringly technical, AI can be explained as teaching a machine to

WWW.FREEPIK.COM

Sincerely, Terry C.

ommend an easy to decode subfolder or label system.” Nate Masterson, CEO of Maple Holistics, estimates he gets upwards of 250 e-mails some days, so organization is paramount. “E-mails are your friend,” he advised. “Use them to group together important e-mail chains, so when you need to look at something for reference, you can do so easily.”

4Set Inbox rules or filters.

Many e-mail providers allow you to set up inbox rules or filters that will take action for you and help you quickly categorize emails. Rachel Neil, CEO of the Carex Consulting Gro, takes advantage of Outlook’s role functions to help her keep her inbox clutter to the minimum. “I have rules set up that put e-mails into different folders, color code and prioritize based on sender,” she said. Then at the end of the day, she’ll quickly scan for anything she may have missed.

your calendar to track e-mails 5Use that require follow-up.

When she receives an e-mail that requires not only an immediate response, but also some sort of follow-up action, Newman recommends adding them to the calendar. Using Microsoft Outlook (you can also do this in Gmail), “I move the email to a designated subfolder and put a reminder on my calendar that includes the folder location and the date when follow-up is required.”

let junk mail languish in your 6Don’t inbox.

David Siksnans, founder and CEO of Printful, uses a three-strike rule for promotional e-mails and newsletters. The third time he deletes a newsletter or promo e-mail from a specific sender, he unsubscribes from the list.

templates for your go-to re7Create sponses. If you find yourself sending the same e-mail response over and over again, you may benefit from keeping some stock responses in your drafts that you can easily reuse. Betsy Fein, president of Professional Organizing Co. Clutterbusters, has frequently asked questions that can think and learn for itself. That is, by programming it to recognize trends and patterns, adapt to new input and improve itself constantly with minimal intervention from a human technician. The field of AI is dedicated, in effect, to creating machines that solve problems more accurately and more efficiently with every new example they encounter. Imagine locking an intern in a room full of numbers and case studies for a week, and coming back to find them overqualified. From here, you can see where the fear starts: robots are smarter than us, faster than us and they never complain. How can we ever hope to compete with a machine that could do our jobs?

be addressed with locked and loaded responses. “I have pre-written e-mails that I can tweak. I send out to e-mails that ask the same questions like ‘Tell me about your services’ or ‘How do I set up an appointment.’”

8Sete-mail.aside time blocks for checking

David Mitroff, a business consultant, recommended that “peo-

ple start out with three different halfhour blocks a day to read through and respond to their e-mails, and keep their inbox closed the rest of the day and adjust as necessary from there.” In addition, Justin Lavelle, chief communications officer of BeenVerified, recommended setting aside time once a week for inbox maintenance. “Chose a time each week to

Use your downtime—a coffee break, while on the commute—to do quick inbox cleanups. “Lots of messages I receive don’t require direct action,” said Ben Taylor, founder of HomeworkingClub.com. “Spam can be deleted, other things can be filed, and you can deal with plenty of these just while you are in a two-minute supermarket queue.” PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman. We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.

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E4 Monday, April 29, 2019

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It’s 2019–where’s my supersuit? By Karl Zelik Vanderbilt University

THE CONVERSATION

LOVED the “Thundercats” cartoon as a child, watching catlike humanoids fighting the forces of evil. Whenever their leader was in trouble, he’d unleash the Sword of Omens to gain “sight beyond sight,” the ability to see events happening at faraway places, or bellow “Thunder, Thunder, Thunder, Thundercats, Hooo!” to instantaneously summon his allies to his location to join the fight. What kid didn’t want those superpowers?

Exoskeletons under development

OVER the past five years, wearable exoskeletons that assist and aid movement have begun to shift out of research labs and into public use. They’re still early versions, and the science is still emerging, but they include the first of several FDAapproved exoskeletons to assist individuals with spinal cord injury or after stroke, as well as exoskeletons to help keep workers safe and reduce the fatigue of physically demanding jobs. Toyota even requires workers to wear exoskeletons as mandatory personal protective equipment when performing certain overhead work tasks, where fatigue and muscle stress could lead to injury.

GRANDEDUC | DREAMSTIME.COM

I also wanted Green Lantern’s ring, Wonder Woman’s bracelets, Captain America’s shield and of course Batman’s batsuit. I never imagined then that 30 years later, as National Superhero Day approaches, I’d be designing components of my own supersuits. I didn’t really notice this until a few months ago. On that day, my childhood dreams were at once destroyed and fulfilled. Standing in a line, I noticed that everyone was focused on their smartphones’ screens. Suddenly it hit me: I already had Sword of Omens superpowers. With my smartphone, I can see video of faraway events and text my friends to meet up. Billions of people now have what used to be considered superpowers. But what about the physical superpowers? I wanted those, too—like superhuman endurance or strength. Those may not be too far behind: I’m working on them in Vanderbilt’s Center for Rehabilitation Engineering & Assistive Technology. Humanity has begun to enter the age of wearable exoskeletons and exosuits that offer support and strength to people’s bodies. However, most people who could potentially benefit don’t yet have access to exoskeletons, because they’re generally too bulky, too expensive, interfere too much with other tasks or are not yet comfortable enough to wear. I’ve become fascinated by the prospect of regular people turning themselves into everyday superheroes.

Preventing injuries with supersuits

FROM my research lab, I can walk across the street and within two minutes be at the Veterans Affairs Hospital or the Vanderbilt University Medical Center. The nurses and other medical professionals who

A WORKER uses an artificial robot exoskeleton suit, designed to help workers lift and carry objects more easily and with less risk of injury. EKKASIT KEATSIRIKUL | DREAMSTIME.COM

perform strenuous lifting, leaning and carrying tasks to care for patients are likely to develop low back pain—or may already be experiencing it. A supersuit could help prevent this pain. Low back pain is a complex problem with many potential sources, but one common source is due to stress from repetitive forces on the muscles and discs. Most adults experience low back pain at some point in their lifetime, and it’s a leading cause of physical disability. The prestigious medical journal The Lancet recently published a three-part series calling on everyone—from national and inter-

national policymakers to funding agencies to researchers, engineers and clinicians—to help improve the effectiveness of care and develop innovative new solutions to combat this global epidemic. Over the last three years, the research team I lead has been developing a clothing-like exoskeleton, which might be more aptly described as mechanized clothing, a spring-powered exosuit or even just a supersuit. It consists of a vest and shorts made of common clothing materials, plus assistive fabric elastic bands and a switch that lets the wearer turn the suit’s assistance on or off. When it’s switched off, the wearer can move freely and fully, which isn’t typically the case with exoskeletons. Our suit doesn’t have any motors or batteries and weighs less than three pounds. No part of it protrudes out from the body, so it’s easily concealed under everyday clothes. At any moment, though, it can be switched on, so the suit’s elastic bands bear some of the load that typically goes through the person’s back muscles. In an initial series of laboratory tests, the suit reduced loading on the low back muscles by about 20 percent during lifting and up to 40 percent during leaning, and it reduced the rate at which back muscles fatigue by 30 percent to 40 percent, on average.

We recently formed a spinoff company from this research, aptly named HeroWear Llc., to make this supersuit available to individuals and organizations who might benefit. We expect the product to be on the market in 2020. We have also begun a multi-year study funded by the National Institutes of Health to integrate wearable sensors and machine learning into our supersuits. With those additions, we may be able to develop future suits that monitor stress on the wearer’s back and automatically activate the assistance when it’s needed.

Boundless possibilities

THE goal for many exoskeletons is like that of a good cartoon supersuit—not to do the work for its wearer, but to enhance and support that person’s natural abilities. Assisting back muscles is just the beginning. We have also designed a similar spring-powered exosuit to assist the ankle muscles during walking and running. It may help increase endurance or reduce force on calf muscles and tendons as someone recovers from an injury. Similar supersuits might also be designed to support the necks of nurses and surgeons who lean forward for long periods of time during procedures, or to reduce arm fatigue for a construction worker carrying heavy objects or for a par-

ent carrying a child. Teams across the globe are exploring a wide variety of wearable exoskeletons as well. These include motorized exosuits to assist the legs, arms and hands of individuals recovering from stroke or other neurological injury, rigid robotic exoskeletons to assist people after spinal cord injury and passive spring-assist exoskeletons to support individuals’ arms and shoulders with tool handling or overhead work in factories and shipyards. Through the use of wearable sensors and biomechanical algorithms, supersuits might even be trained to teach proper lifting technique or to provide resistance training to help strengthen weak muscles and enhance fitness. My hope is that 30 years from now—by the time my children are my age—performance-enhancing supersuits will be as common and mundane in society as smartphones are today. Perhaps people might even forget the amazing physical superpowers that they provide, and take for granted supersuits’ individual and societal benefits to health, fitness and well-being. This article is republished from The Conversation under a Creative Commons license. Read the original article here: http://theconversation.com/its2019-wheres-my-supersuit-115679.